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Diesel now costs Rs. 720 per litre, says President AKD. (Current selling price: Rs. 392)
⭕️ 1 1/2 years ago, when the Government was preparing to lift the vehicle import ban, we suggested revamping Sri Lanka’s 🇱🇰 vehicle tax structure in favour of more energy-efficient EVs and hybrids, mainly to reduce long-term foreign exchange pressure from fuel imports.
⭕️ But instead of making a policy shift in that direction, the Government continued with higher tariffs across the board and actually increased tariffs on EVs.
⭕️ Now, the same revenue gained through those higher tariffs is effectively being burned to keep fuel prices affordable, while the country continues to lose foreign exchange on fuel imports. At the same time, rupee depreciation is creating additional pressure on fuel costs.
⭕️ The reopening of vehicle imports after a five-year ban gave Sri Lanka a once-in-a-generation chance to move towards a more energy-efficient vehicle fleet and reduce long-term foreign exchange dependence on fuel imports. But nearly 600,000 vehicles and more than one and a half years later, that opportunity may already be slipping away.
Now, every Sri Lankan is paying the price for that missed policy Opportunity.
#SriLanka #EV
Comments
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Government has taken the decision of opening up vehicle imports when the whole world is moving towards energy transmission and electric transportation. But our government never wanted to listen to the global trends, instead went ahead with the idea of making money with the fuel taxation along with the car taxes. And they purposely of discouraged the EV imports, when the world is giving whatever possible concessions for vehicle electrification. Now crying over the spilt milk!
and they stopped providing low interest loans for solar , delayed on grid approvals. these guys doesn't have any clue about policy making. i'm saying this as a someone who voted for NPP. only thing that got reduced is curreuption.
It’s a short-term solution and it’s not sustainable. It may causes many conflicts than this rupee depreciation. First, gov should stop telling lies. It can save lives, fuel, energy and $s. That’s the most important policy opportunity gov missed.
EVs are charged usually in the peak or off-peak hours, during which the electricity production is mainly depending on the fuel. Therefore I think reducing the tariffs on EVs won't make a huge impact on foreign reserves.
Shihab Aaqil there is either a peak time or off-peak time. Is there any more time other than these 2 where electricity production doesn't depend on fuel?
Mahmood Nasir The categorization is as day, peak and off-peak. Off-peak is after 10.30 pm
History simply repeats itself, third world countries never learn about importance of energy security
In my opinion, the government should have focused more on hybrid and highly fuel-efficient non-EV vehicles instead of fully electric vehicles alone. EVs feel like a more populist idea, but realistically, the battery often needs to be replaced within 8–15 years. That replacement can cost a huge amount compared to maintaining a non-EV vehicle.
Guaranteed poverty for another generation.
But where do we get the Electricity Generated from? The CEB doesn't entertain new Solar Connecrion and try to discourage When people apply for it. Apart from a portion of Electricity generation using Hydropower, our electricity is generated through fossil fuel. In that case what's the point in permitting ev vehicles Which Again going to increase the usage of Fossil Fuel to generate electricity?
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Mohamed Zeith BJ 1. Even if the same fuel is used in a fuel power plant to produce electricity and charge EVs, the overall cost still lower because EVs are far more energy-efficient than ICE. 2. Solar-based EV charging stations are already being developed across Sri Lanka, but this transition could have accelerated much faster if there had been a larger EV market.
One of the most fuel efficient vehicles known to mankind, Toyota Prius costs LKR 25-28 million to import because it has a 2500cc engine. Meanwhile a 1500/1800cc Mercedes C class also costs almost the same due to our tax system which is based on “Engine capacity” not depending on the actual value of the vehicle. Forget about even considering its safety features. . There’s no point of even discussing these things 🤷🏻♂️