Minister holds pre-budget discussion with automobile and electronics importers

A pre-budget discussion on the automobile and electronic equipment industries was held this afternoon (16) at the Presidential Secretariat, chaired by the Minister of Labour and Deputy Minister of Economic Development, Dr. Anil Jayantha Fernando.

Importers of automobiles and electronic equipment expressed their full support for the government’s economic development programme, led by President Anura Kumara Dissanayake, the Presidential Media Division (PMD) said. 

Vehicle importers noted that the sector has expanded due to recent government decision regarding vehicle imports and they presented several productive proposals for consideration in the upcoming budget.
  
The challenges encountered by importers of products related to electronic equipment in the industry were also addressed. Stakeholders highlighted market imbalances and reduced product quality caused by unregulated imports of electronic goods brought into the country illegally, often bypassing tax payments by organized groups, the statement said.

Importers emphasized that such practices result in significant revenue loss for the government and raise concerns about product standards for consumers, urging prompt government action to address these issues.

Minister of Labour and Deputy Minister of Economic Development, Dr. Anil Jayantha Fernando stated that all productive proposals from industry experts would be considered in preparing the upcoming budget. He also noted that, if necessary, new regulations would be introduced to ensure the importation of quality products. 

Furthermore, the Minister confirmed that laws would be strictly enforced against organized groups importing goods through illegal channels, according to the PMD.

Senior Additional Secretary to the President Kapila Janaka Bandara, Chairman of the Sri Lanka Export Development Board Mangala Wijesinghe, officials from the Ministry of Finance and representatives from the automobile and electronic equipment import sectors also participated in the discussion.

-PMD-