Jun 17, 2021

Ban on vehicle import saves Rs 250 b Featured

The ban on vehicle import has enabled the government to save Rs 250 billion, the government sources said.

This follows the government’s decision to suspend the import of vehicles in a bid to maintain the financial stability in the country in the wake of the COVID 19.

State minister of finance Ajith Nivad Cabraal said the government’s decision led to a large sum of money being drained to other countries and that helped to strengthen the Covid control mechanism.

However, Cabraal said the decision was a temporary one and that it will be reviewed at the end of the year.

Annually, vehicles worth over Rs 200 billion are imported to the country.