CMTA elects new Chairman at 104th AGM

From left: Andrew Perera, Duminda Hulangamuwa, Virann de Zoysa and Charaka Perera

Ceylon Motor Traders Association (CMTA) recently held its 104th Annual General Meeting (AGM). The event was held under the auspices of Chief Guest Duminda Hulangamuwa, Chairman of the Ceylon Chamber of Commerce, and was attended by over 140 dignitaries comprising of the government sector, diplomatic missions and private sector. 
Virann de Zoysa, Director AMW Manufacturing was elected as Chairman and Andrew Perera, Managing Director of Kia Motors Lanka was appointed Senior Vice Chairman and Lakmal de Silva, General Manager, David Peiris Motor Company was appointed Vice Chairman.
Duminda Hulangamuwa addressing the gathering said, “The motor vehicle industry must fundamentally rethink its business strategies. From a policy perspective, it is unlikely that any future government will adopt a liberal approach to issuing permits for vehicle imports on a concessionary basis as was done previously. 
Additionally, the exchange rate was artificially maintained at a subsidized level, from which we all benefited. This consumption led to the depletion of our reserves, a considerable portion of which was allocated to vehicle imports. 
Another area of concern was the malpractice of the grey market in the motor vehicle industry as seen recently with the foreign migrant worker scheme for electric vehicles, he stressed the importance of strict regulation and action for those abusing the system. 
de Zoysa said, “Today as the automotive imports sector we find ourselves in the most challenging of circumstances with imports restricted for over 4 years. We maximized government revenue per dollar of import, which reached an average of US$ 1.60 government revenue for every dollar of import by 2017. 
However, inconsistent policy changes noted in the recent past impacted this contribution negatively changing the sector’s attractiveness to the government & possibly leading to the subsequent import restriction. This is indeed a misstep and something that must be addressed by working together with our stakeholders. I believe supporting government in sustainable policy & regulation is a key focus for CMTA.”
According to the Outgoing Chairman Charaka Perera, Director / Chief Operating Officer of Stafford Motor Co (Pvt) Ltd, “The association has been strongly lobbying to regulate the vehicle importers, prior to opening up the market. We have also proposed for vehicles to be subjected to an additional 140 percent duty, with a 20 percent quarterly reduction, in the additional duty. This will discourage over-stocking of vehicles for future sales, which will mitigate the forex outflow. During the last two years, CMTA was appointed to several Ministerial and Cabinet Appointed committees, to work on regulations & industry development.” 
Ceylon Motor Traders Association was established in 1919 and has been at the forefront of Sri Lanka’s automotive industry.