Sri Lanka, March 7 -- The Ministry of Finance says that importers must register at least 25% of the total number of vehicles imported within six months.

Failure to comply with this will result in the suspension of the importer's import permit, according to the Finance Ministry.

This measure has been introduced in order to protect foreign exchange reserves, discourage excessive vehicle imports, and prevent the unnecessary accumulation of motor vehicles.

However, these conditions do not apply to individuals importing vehicles for personal use, as they are allowed to import only one vehicle, the Finance Ministry says.

These regulations were discussed at a recent meeting of the Committee on Public Finance (COPF) regarding vehicle imports....