The Ministry of Finance states that the restrictions imposed on the importation of vehicles will continue to be implemented. Accordingly, the opening of the market for foreign vehicles will be further delayed.
The Secretary to the Ministry of Finance states that there is no need to give priority to the importation of vehicles and accordingly the restrictions will be in effect for at least another seven months.
Vehicle import restrictions were effective from March 2020 due to the impact of the covid expansion.
With the imposition of import restrictions, the prices of vehicles imported and used in the country at that time have gone up sharply and the prices of some vehicles have doubled or tripled.
Indika Sampath Merenchige, President of the Vehicle Importers Association says that no relief has been received from the budget for the importation of vehicles. The Chairman says that vehicle prices could increase further due to this situation. Merenchige also points out that it is not possible to say when prices will return to normal.
Vehicle dealers as well as consumers will be severely inconvenienced by this situation.