Parliamentarian Premnath C. Dolawatte presented several proposals in Parliament today to provide concessions for foreign expatriates to purchase vehicles.
MP Dolawatte said the importation of vehicles has been limited adding that as a result prices of vehicles have increased abnormally.
MP Dolawatte added however the government has saved foreign reserves spent on import vehicles, through the restrictions.
The MP proposed granting foreign expatriates a concessionary period of one year to import a vehicle, adding they must pay the relevant taxes in foreign currency.
MP Dolawatte said through the move vehicles will be imported to the country and while saving foreign reserves.
In response, State Minister of Money & Capital Market and State Enterprise Reforms Ajith Nivard Cabraal said it is an interesting proposal adding that the government will consider it and take relevant action.