Sri Lanka, Feb. 19 -- The Vehicle Importers Association of Lanka (VIAL) urged the public not to resort to panic buying of vehicles ahead of the Government's decision to impose a 2.5% Social Security Contribution Levy (SSCL) on imported vehicles from April 1, 2026.

Addressing the media, VIAL Chairman Indika Sampath Merenchige assured that vehicle prices would not increase as a result of the new tax.

He said that vehicle prices in Japan have declined in recent months and that the benefit of this reduction would be reflected in the local market. According to him, the 2.5% SSCL would amount to an additional Rs. 75,000 to Rs. 100,000 depending on the value of the vehicle.

Merenchige warned that unnecessary panic buying, particularly from th...