Home / / Treasury to convene meeting of all motor importers

Treasury to convene meeting of all motor importers


Comments / 1501 Views / Thursday, 3 May 2012 03:00


The Finance Ministry will shortly convene a meeting of all motor vehicle importers to discuss a new scheme to improve service standards and reliability.

Ministry Secretary Dr. P.B. Jayasundera told journalists on Monday that the new meeting was a follow up to a discussion President Mahinda Rajapaksa who is also the Finance Minister had with Vehicle Importers Association recently.



“We will meet with all importers to discuss the modalities for a licensing arrangement to ensure after-sales service standards as well as reliability of vehicles sold,” Dr. Jayasundera said.

He explained that during the meeting with the President, it was pointed out that within the motor trade there are several unorganised importers who remain in business despite supplying vehicles of poor quality and reliability, jeopardising the interest of motorists or customers.  A scheme has been proposed to issue licences for the purpose of vehicle imports ranging from a Rs. 5 million fee for small scale importers of reconditioned vehicles and Rs. 10 million for large-scale firms as well as Rs. 25 million for those who import brand new cars.

“The proposed meeting is aimed at getting view points of all motor industry stakeholders and reach an understanding on the way forward,” Dr. Jayasundera added.

The Treasury Chief also said that following the 1 April hike in duties, the value of vehicle imports this year is likely to come down to $ 700 million from a record high of $ 1.7 billion last year.


Share This Article


COMMENTS

Today's Columnists

Restoring ‘Economic Democracy’: Is it an elusive goal?

27 February 2017

President Maithripala Sirisena Promised delivery of economic democracy to people One of the pledges made by the present Government in its election manifesto titled ‘The Five Point Plan for creating a new country in 60 mont...


Signifying ‘Sigmoid’ for Sri Lankans

27 February 2017

Being proactive is becoming a rarity. Protests for rights have become a regular occurrence. Conducting post-mortems after a tragedy is not something uncommon to us. All of the above point to the need for a fresh approach towards survival and succe...


Shipping industry fails to reduce carbon emissions

27 February 2017

Shipping industry fails to reduce carbon emissions If the container shipping industry fails to proactively act on reducing carbon emissions, national and regional regulation will likely impose a heavy burden on shipping companies, an internation...


Ting, ting! Alarm bells for the economy, jingle bells for the banks!

24 February 2017

Even after discounting for political rhetoric (on all sides), economists are convinced that our economy is in a critical stage. This course is the culmination effect of how the economy has been managed over the last few decades. At the same time, ...


Columnists More