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President Ranil Wickremesinghe Plans Gradual Relaxation of Private Vehicle Imports

President Ranil Wickremesinghe expressed his intention to gradually ease the import of private vehicles, beginning from next year.

The President conveyed these remarks during his attendance at a gathering organized by the United Youth Union, titled “Future of the Youth,” held on the 12th at Taprobane Entertainment.

“I do not foresee vehicle imports occurring this year, but we aim to initiate the process gradually starting from next year,” he stated.

President Wickremesinghe acknowledged the existing challenges in the car market, noting that under the balance of payments, the government has permitted imports of all commodities except vehicles.

“While allowing car imports poses a risk of regression for the country, we intend to approach vehicle imports systematically and incrementally. Initially, we will prioritize the importation of essential vehicle types,” he explained.

The government has already permitted the importation of buses this year for tourist transportation purposes, he added.

During interactions with the youth, concerns were raised about the significant price hikes in the used car market and the absence of proper price regulation. Source –

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