US$ rate reaches Rs.300; in-depth study on vehicle imports stressed: Siyambalapitiya

In a situation where the US dollar, which is overvalued by 78%, has been devalued by about 20%, Finance State Minister Ranjith Siyambalapitiya said that the proposal to give permission to import vehicles should be studied in depth.

He points out that the value of the rupee, which rose from Rs.202 to Rs.360 against the US dollar, has now come down to Rs.300.

The Minister said that the proposal was made at the time the Sectoral Oversight Committee on National Economic and Physical Plans met under the chairmanship of MP Mahindananda Aluthgamage.

During the meeting, there were suggestions that vehicles should be imported under a loan program.

"Our annual revenue target is Rs. 1,226 billion. It will be Rs. 510 billion when calculating the revenue for five months. There is no specific value for income each month. Low income is expected in the first six months of the year. Accordingly, the figure for the first five months of this year stands at Rs.333 billion. But our income is Rs.330 billion. Accordingly, we have received 99% of the target income. People may remember what we had to suffer because of the dollar crunch. Even today, we refuel through QR code because of that shortage," the minister said.

The dollar rate, which was at Rs. 202 surged to Rs. 360, which is 78%. Now, it has come to Rs. 300, the minister added. (Chaturanga Pradeep Samarawickama)