Ceylon Motor Traders Association to lobby for sustainable policy
Ceylon Motor Traders Association (CMTA )must actively and effectively lobby for sustainable policy and against disruptive policy that can endanger the automobile industry again, newly appointed CMTA President Virann De Zoysa told its 104th AGM held in Colombo recently.
“Today, as the automotive import sector we find ourselves in the most challenging of circumstances. With imports restricted for over 4 years, we must ask ourselves how did we get here? What could we have done differently to safeguard the sustainability of this sector as mentioned? Our sector was a primary contributor to government income, contributing almost 7% of total government revenue. We maximized revenue per dollar of import, averaging almost USD 1.60 for every dollar that left the country. However, inconsistent policy changes noted in the recent past impacted this contribution negatively, changing the sector’s attractiveness to the government and possibly leading to the subsequent import restriction.”
De Zoysa said this was indeed a misstep and something that must be addressed by working together with their stakeholders.
“I believe supporting government and its sustainable policy, regulatory policy and regulation is a key focus for CMTA.Moving forward in line with this, I am pleased to share that CMTA has reached out to the Society of Indian Automotive Manufacturers (SIAM) who represent global manufacturers based in India. This group represents manufacturers of the third largest market in the world, only behind China and USA.”
The CMTA President said that a team from SIAM has committed to visit Sri Lanka in August this year to support and share knowledge on sustainable policy and the way forward for the sector. De Zoysa urged, “We hope that our intentions are clear and once again implore all of you to support the SIAM as you have done in the past to transform this sector.”
The post Ceylon Motor Traders Association to lobby for sustainable policy appeared first on DailyNews.