President Wickremesinghe Outlines Plan to Ease Vehicle Import Restrictions 2025

President Ranil Wickremesinghe has announced the government’s intention to gradually ease restrictions on the importation of vehicles, starting from the year 2025. Speaking at a gathering organized by the United Youth Union titled “Future of the Youth” at Thaprobane Entertainment, the President addressed queries regarding plans to alleviate constraints in the automobile market.

Acknowledging the challenges faced by the automobile industry, President Wickremesinghe underscored the current unfavorable balance of payments situation in Sri Lanka. While most imports are permitted, stringent restrictions remain on vehicle imports due to economic concerns.

Responding to inquiries about the possibility of easing vehicle imports this year, President Wickremesinghe expressed skepticism, stating, “I can’t see it happening this year, but we would like to do it gradually from next year.” He emphasized that an abrupt relaxation of vehicle import regulations could exacerbate economic setbacks.

Elaborating on the government’s strategy, President Wickremesinghe outlined plans to permit essential vehicle imports gradually starting from the following year. As a precursor to this initiative, he noted that this year, the importation of buses for tourist transportation has been authorized. (LankaXpress.com )