🚗 $207M in LCs Opened for Car Imports in Sri Lanka 🇱🇰

President Anura Kumara Dissanayake revealed a surge in vehicle imports during the 2025 budget debate.

⭕ $207M in LCs opened as of March 21 — ~20% of projected FX outflow for vehicle imports in 2025

⭕ Initial concerns were over a post-restriction import surge; now concerns shift to low revenue due to reduced imports under new taxes.

⭕ Revenue target from vehicle imports revised down by ~Rs. 200–300B

⭕ Too early to determine if revised targets will be met — but a significant miss is highly unlikely.

#SriLanka 🇱🇰 #VehicleImports