Home / Front Page/ Permit holders with LoCs to get cars: Eran

Permit holders with LoCs to get cars: Eran


Comments / {{hitsCtrl.values.hits}} Views / Saturday, 9 February 2019 00:35

Facebook

  • State Minister of Finance assures Parliament State employees with existing letters of credit will be able to import vehicles in next 3 months

 

The State sector employees who have opened a letter of credit (LoC) but are unable to import vehicles due to recent exchange restrictions will be able to get their cars shipped to Sri Lanka within the next three months, the Government confirmed during the parliamentary session yesterday.

State Minister of Finance Eran Wickramaratne, responding to JVP lawmaker Anura Dissanayake, held the prevailing foreign exchange issues have led the Government to prudently manage the reserves but will not hinder the car permits issued, and that the car permits will continue to be issued to public servants.

“In our efforts to secure the foreign reserves, the vehicle imports using permits issued to public servants were suspended temporarily. This is a practical step taken to manage the funds as we are bound to pay more debt during the first quarter of this year. During the month of January, we had some serious debt servicing,” the State Minister said.

According to Wickramaratne, the Government has no plans to suspend the car permit issuance to the public sector. “We know that there are people who have opened LoCs with certain finance companies, and they will be allowed to bring in vehicles. As far as we know, there are almost 400 State employees who paid and opened a LoC to import vehicles.

They didn’t know the fact that the finance companies collect money from such customers and open LoCs for all. 

Yes, it is an issue they have faced but with the country’s situation, we had to make a decision,” he confirmed. (AH)


Share This Article

Facebook Twitter


DISCLAIMER:

1. All comments will be moderated by the Daily FT Web Editor.

2. Comments that are abusive, obscene, incendiary, defamatory or irrelevant will not be published.

3. We may remove hyperlinks within comments.

4. Kindly use a genuine email ID and provide your name.

5. Spamming the comments section under different user names may result in being blacklisted.

COMMENTS

Today's Columnists

No more stones to break Sri Lankan bones

Friday, 19 April 2019

Trial by fire is not a new ordeal to Christian community. It predates Notre Dame and Nazism by millennia. In fact, a decade or so before Nero torched believers to light Roman avenues, Jewish religious leaders put Jesus-followers to the test as the Ch


Wounding the social psyche

Friday, 19 April 2019

In this article, I intend to discuss the serious wounds inflicted on the psyche of Sri Lankan society, which have not received adequate attention, but need immediate cure, for they might develop into a dangerous cancer if not treated without further


What 5G could be to Game of Thrones (and vice versa)

Friday, 19 April 2019

We will be hearing a lot about these two seemingly unrelated topics this month. In a hurriedly but meticulously organised event, Dialog Axiata recently demonstrated 5G applications for the first time in South Asia. 5G will be commercially available


On time – Only for a week! A must-change!

Thursday, 18 April 2019

We are in April and the month where we witness the declaration of a new year as per our traditional practice. It is that period of time when a huge majority of our population, which certainly can be counted in millions, intends to act in unison and q


Columnists More