“Grant considerable time to re-pay leasing installments”

The Leasing and Loan – repayment Members Association (LLMA) expressed serious concern over the delay of repaying the vehicle loan installments by their members to leasing organizations owing to the current economic crisis in the country and requested the Central Bank Governor to intervene in this matter and direct leasing companies to grant them a considerable time period of at least six months to one year to re-pay the leasing installments without an additional fine.

Addressing the media LLMA, General Secretary Asanka Pothupitiya said nearly 200,000 persons have already obtained the membership of the Association and almost all are currently facing financial difficulties to make their vehicle installments.

He said at this crucial juncture when over 90 % LLMA members are unable to pay their monthly installments due to the present financial issues, and the Government should make a directive to banks and leasing companies to grant the clients a certain relief period to re-pay their monthly installments.