Former UNP Deputy Leader and MP Ravi Karunanayake has commented on the extension of the surcharge imposed on vehicle imports, saying the large-scale importation of vehicles has contributed to pressure on the Sri Lankan rupee.
Speaking at a media briefing, Karunanayake said a similar situation had arisen in late 2024, but then-President Ranil Wickremesinghe had made decisions on vehicle import restrictions after considering their potential economic impact.
He said the objective at the time was to strengthen the rupee before allowing the public greater access to vehicle imports.
However, comparing the situation with the present circumstances, Karunanayake said approximately 65,000 cars and around one million motorcycles have been imported.
He claimed that the rupee, which had previously been around Rs. 293 against the US dollar, had depreciated to around Rs. 340 and was currently experiencing fluctuations.
Karunanayake said the situation has created concerns regarding the country’s overall debt position and has also affected the cost of living.
