In what seemed to a paradigm shift in the import policy of the government, Deputy Minister of Finance, Dr. Sarath Amunugama, yesterday said that plans were afoot to cut down vehicle imports by 30 per cent in the near future and to assemble them locally.
Dr. Amunugama, who was responding an oral question raised by UNP MP Buddhika Pathirana in Parliament, said that an assembling plant was already being constructed in Polgahawela. He said that the Free Trade Agreements (FTAs) which Sri Lanka had signed with countries such as India and Pakistan would contribute towards the industry as these agreements make the importation of vehicle parts easier.
Dr. Amunugama said that Sri Lanka had imported 27,898 jeeps and cars in 2013 while 26,133 such vehicles have been imported in 2012. The number of vehicles imported in 2011 had been 56,258. The expenditure on imports which the county was forced to incur for getting down cars and jeeps in 2013 had been US $ 467 million while a sum of US $ 364 million had also been spent in 2012. The amount spent for the importation of jeeps and cars in 2011 had been $ 697 million.
The Deputy Minister said that the government had adjusted its import tax policy in order to reduce the negative impact which the vehicle importation had made to the country’s balance of payments.
Source:- dailymirror.lk
No comments:
Post a Comment