Government revenue from vehicle imports is expected to surpass its 2025 target by the end of the year, the Committee on Public Finance heard on Sept. 23.

The disclosure was made during a meeting chaired by Committee Chairman Dr. Harsha de Silva.

When asked about projected income from vehicle imports for the year, Deputy Treasury Secretary Dilip Silva said the target stood at Rs. 460 billion.

Responding, Additional Director General of Trade and Investment Policy Malshani Aberatne said current trends however indicate revenue could reach around Rs. 700 billion, noting that the volume of imported vehicles was higher than expected.

She also revealed that by Sept. 16, letters of credit worth USD 1.57 billion had already been opened for vehicle imports. (Newswire)

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