Committee appointed to formulate program for vehicle imports

State Minister of Finance Ranjith Siyambalapitiya says that a committee was appointed on Friday (14) to devise a program on how to carry out vehicle importation activities in the future.

Speaking to the media today (15), Siyambalapitiya highlighted ongoing discussions with the International Monetary Fund (IMF), which has been guiding the country’s financial strategies.

He mentioned that the government has submitted a roadmap to the IMF regarding the relaxation of vehicle import restrictions, recognizing the direct impact of such imports on the country’s foreign reserves. 

The relaxation of restrictions will begin with vehicles used for public transport, following a specific method outlined in the roadmap, according to the State Minister.

The aforesaid committee comprises key stakeholders such as the Department of Trade and Investment Policies of the Ministry of Finance, Department of Motor Traffic, Central Bank of Sri Lanka, representatives from the vehicle import sectors, the Associated Vehicle Assemblers, the Ministry of Industries and the Ministry of Environment in order to develop this program.

Siyambalapitiya emphasized that the initial focus will be on easing restrictions on vehicles used for public transportation, goods transportation, and common alternatives like motorcycles and cars used by the general public. 

Subsequently, there will be a gradual easing of restrictions on luxury vehicle imports, with special consideration given to their economic implications, the State Minister said.