Sri Lanka, Aug. 7 -- President Anura Kumara Dissanayake has announced that there will be no further tax increases or restrictions on vehicle imports. In a stern message, he also criticized those spreading rumors for creating "unnecessary panic" and putting "pressure on the dollar."
Addressing the Parliament, the President sought to provide stability and confidence to the local automotive market and the broader economy, stating that the era of unpredictable import bans is over.
"Some individuals are spreading rumors that we are going to restrict vehicle imports," the President said. "When this happens, even people who are planning to buy a vehicle later on try to purchase one this year. These individuals are actually trying to create press...