Chairman of Japan Used Motor Vehicle Exporters Association (JUMVEA) Jagath Ramanayake has called for amendments to Sri Lanka’s vehicle import regulations, proposing that a valid chassis number be made a mandatory requirement when opening a Letter of Credit (LC) for new vehicle imports as well.

His remarks come amid public debate over recent vehicle import restrictions and allegations that some parties may have had advance knowledge of regulatory changes, allowing them to open LCs before the new rules took effect.

“There is a law in our country regarding the date a Letter of Credit is opened. But now, controversially, fingers are being pointed at the government, claiming this message went into the hands of a few people before the law was implemented.” Ramanayake said.

To address such concerns, he proposed that all vehicle import LCs be linked to a specific vehicle through its chassis number, arguing that this would eliminate loopholes and improve transparency in the import process.

“If we think about and resolve this issue today, a problem like this will never happen to the government again. I propose that if a vehicle is being bought, or if an LC is being opened for a vehicle, the chassis number of that vehicle must mandatorily be included,” he said.

Ramanayake noted that while used vehicle imports already require chassis numbers before LCs are opened, however the requirement is not there for brand-new vehicle imports. He added that this rule should be reconsidered because a vehicle without a chassis number has not yet been manufactured.

“A vehicle without a chassis number is not even manufactured yet; there is no such vehicle in the world. Therefore, we should not allow money to be spent and LCs to be opened for such things,” he said.

He further suggested that if authorities permit an LC to be opened before a chassis number is assigned, any future regulations should apply only from the date the chassis number is officially entered into the LC documentation. (Newswire)

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