Sri Lankan car importers urge govt to waive 3% penalty on imported vehicles

Sri Lankan car importers, in the wake of the destruction caused by cyclone Ditwah, urged the government to waive the 3 per cent penalty on vehicles cleared after three months. Our buyers who placed orders for cars want refunds as the cyclone damage has left them in financial difficulties," Prasad Manage, the President of the Automobile Importers Association, told the media, adding that the buying power of the consumer has reduced. We are also victims of the Ditwah cyclone with customers asking for refunds of advance deposits made," Manage added. In Sri Lanka, imported cars are to be registered with the Department of Motor Traffic (DMT) within three months of the Customs Declaration date. Hefty monthly penalties of 3 per cent of the Cost-Insurance-Freight (CIF) value are imposed in case of non-compliance with the policy. He also requested the government to waive the 3 per cent penalty while increasing the registration period of the vehicles to six months. However, the import statis