The Lanka Vehicle Importers’ Association and the Sri Lanka Vehicle Importers’ Association have decided to suspend the import of vehicles into Sri Lanka.
Lanka Vehicle Importers’ Association chairman Indika Sampath Merinchige announced this decision during a media conference held today (04 May).
He stated that they were unable to bear the prevailing fluctuations in foreign exchange rates and that they have taken steps to suspend vehicle imports for three to six months till this situation eases.
While expressing views further, Indika Sampath Merinchige said this step had been taken to cooperate with the government in its efforts to safeguard its foreign exchange reserves to avoid the further depreciation of the Sri Lankan Rupee under the prevailing situation.