Govt supports local car industry

by Ananda Wedarachchi

There were 12,000 car import permits issued around 20,000 public sector senior officers who are entitled to import cars. The Director Department of Trade Tariff and Investment N. K. G. K. Nemmawatte said.

The government has decided to allow car permit holders to use their permits to purchase locally assembled vehicles at a reduced price.

"The government wants to encourage the local industry and buyers are opting to purchase locally manufactured cars as it is convenient to carryout the transaction, Dr. R. H. S. Samaratunge of the Trade, Tariff and Investment Policy Department said.

The companies which have more than 51% of local share capital will be able to sell locally assembled vehicle to senior public servants at a reduced price.

The senior public sector officials who are entitled to import brand new vehicles are in the "waiting lists" of vehicle importers for their turn to open LCs. (Letter of Credit)