Ban on vehicle import saves Rs 250 b
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.