Economic analysts warn of ‘vehicle price mafia’

The existence of a mafia influence behind the arbitrary increase of imported vehicle prices cannot be rejected, Senior Professor Aminda Methsila Perera of the Wayamba University said.

The professor mentioned this responding to an inquiry made by Hiru News seeking his view on the possible increase in vehicle prices due to the 50% customs surcharge imposed on imported vehicles.

Vehicle importers predict that vehicle prices could undergo an increase within a price range from 500,00 to 5,000,000 rupees due to this 50% customs surcharge.

Although vehicle importation to this country was stopped with the economic crisis, permission was granted to import vehicles again last year.

However, a 50% customs tax surcharge was imposed on vehicle importation for three months starting from 15 May.

The extended tax will prevail until December 31.