Reflection on Currency Fluctuation – Vehicle Imports Suspended for 6 Months –President, VIASL

Due to depreciation of the Srilanka rupee against the Japanese Yen, the cost of used and brand new vehicles from Japan has gone up to an unprecedented level.

Because of currency fluctuations, the vehicle imports of Srilanka have been suspended for six months said, Indika Sampath Merenchige, President of Vehicle Importers Association of Srilanka.

However ,if an importer is prepared to bear the cost approximately between Rs 300,000 and Rs 400,000 in respect of currency fluctuation, vehicle can be imported, he said.

With the good intention of not embarrassing the Government, vehicles which are currently imported will not be affected by the increased VAT and those vehicles will be sold at the current market price.