Sri Lanka’s new government will go ahead with the three-stage vehicle import ban relaxation as planned by the previous administration with specifications from the Finance Ministry, Cabinet Spokesperson Minister Vijitha Herath said.
Speaking yesterday (6) at the cabinet decision media briefing, he said that the current government is willing to proceed with stage-one of the three-stage vehicle import plan as proposed by the previous government.
The previous Ranil Wickremasinghe regime has planned to permit the importation of vehicles for private use starting in the first quarter of 2025.
Permission for commercial vehicle imports will be granted under the first pahse. . The initial phase will focus on allowing imports for business and transportation purposes.
The previous Government aimed to avoid reverting to the era of strict import restrictions driven by election-centric decisions. The move was a significant step towards easing import policies and addressing the demand for vehicles in the country.
Minister Vijitha Herath said that the finance ministry along with several other ministries had discussions with the vehicle importers association on the relevant criteria based on which the vehicle imports would be allowed.
“There are certain specifications included for vehicle imports and the finance ministry will announce those specifications in the coming days,” he said.
The previous government said that the removal of the temporary suspension on the importation of motor vehicles and non-motorised goods, classified under a total of 304 HS Codes, would be done in three stages:
Stage 1: The importation of public passenger transport vehicles, special purpose vehicles, and other non-motorised goods will be allowed starting 1 October.
Stage 2: The temporary suspension on the importation of commercial or goods transportation vehicles will be lifted on 1 December.
Stage 3: The importation of personal usage motor vehicles (including cars, vans, and sports utility vehicles, pickups, and more.) will be permitted starting 1 February 2025.
The conditions laid out by the previous administration include limiting the importation of motor cars, sports utility vehicles, motorcycles, and pickups to those less than three years old. Public passenger and commercial vehicles will be limited to five years, while special purpose and defence vehicles can be up to ten years old.
Also, the Importers were required to sell and register vehicles within 90 days of importation, with penalties introduced for any delays.Furthermore, an annual licensing system was proposed for importers, manufacturers, and traders to regulate the motor vehicle market and ensure they contribute to the national tax system
