Sri Lanka, Aug. 11 -- Sri Lanka and Ethiopia are the only two countries where vehicles can be sold for more than their purchase price even after years of use, the Global Federation of Sri Lankan Business Councils (GFSLBC) General Secretary Sajeev Kshathriya Rajaputhra said.

Addressing the media he said eventually, these vehicles become unusable and turn into piles of metal. The question is, what will happen to the value of those vehicles that people bought.

Therefore, Sri Lanka can implement a programme to export old vehicles to other countries at reasonable prices and to bring new vehicles while assign the selling profits to reduce import taxes.

He highlighted that a 300 percent tax is currently imposed on vehicle imports, while the l...