Vehicle Imports Could Deepen Economic Crisis

Samagi Jana Balawegaya (SJB) MP Dr. Harsha de Silva warned that importing vehicles could have severe economic repercussions for Sri Lanka, given the current economic challenges.

Highlighting the steep rise in vehicle prices, he said: “Someone said a Vitz could be bought for Rs 1.4 million. I looked into it, and now the Toyota Raize is priced at Rs 12 million, the Yaris at Rs 18.5 million, and the Prius at Rs 28.9 million. There is a serious problem here.”

The MP emphasised the risks associated with the heavy taxation on vehicle imports. “On the 17th, the President mentioned that a significant portion of tax revenue comes from vehicle imports. Upon further analysis, I found that taxes need to increase by 1.6 per cent of the GDP, with about half of that increase coming from vehicle imports. But who can afford to import vehicles at such skyrocketing prices? I don’t believe there are many people in Sri Lanka who are wealthy enough to afford this,” he remarked.

He also said that the principles adopted to prepare the Budget presented by the President are not in line with the policy manifesto presented during the Presidential Election. He also stated that the current Government, which said that the country had been destroyed for 75 years, said that it would bring change to the people, but no change has been achieved through the Budget.

He also said that the JVP believes in socialism, but what is embedded in the Budget presented by the NPP President is questionable.

He also stated that it is a fateful event that the people who have been obstructing the direction the country has been moving in for the past 48 years are now moving on that path.

He also said that he would question whether the promises given to the people before the election were false and whether the power of the country was obtained by deceiving innocent people.

He also stated that the Government, which had said that the tax on food was extremely unfair before assuming power, is still maintaining that tax.

Not only that, he said, the Government, which won the people’s votes by promising to reduce the price of rice, issued a gazette after coming to power increasing the price of rice. He further said that the Budget presented by the President did not contain the changes that the people expected and that the “system change” promised to the people was not present in the Budget.

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