Although permission has been granted to import vehicles into Sri Lanka, the Sri Lanka Vehicle Importers Association states that a problem has arisen in importing Japanese vehicles into the country.
Its chairman, Indika Sampath Meranchige, points out that Japanese banks have reached a point where they are rejecting letters of credit from local banks.
He also said that as a result, vehicle import companies and importers have had to bring vehicles based on their personal confidence and ability.
He further said that there is another method through banks and that this also results in additional costs being spent on vehicles and further increases the price of vehicles.