Sri Lanka Trade Minister pushes for lower prices on local tires and import restrictions
A discussion was held yesterday (December 31) between the Local Tire Manufacturers’ Association and Minister of Trade, Commerce, Food Security and Cooperative Development, Wasantha Samarasinghe.
The discussion focused on the decision to reduce the price of locally manufactured tires in Sri Lanka to a reasonable level in the near future.
The aim of the discussion was to ensure that locally made tires are available to consumers at an affordable price while maintaining quality standards and promoting domestic production.
It was noted that locally produced tires help Sri Lanka save foreign currency by reducing the need for tire imports, which also impacts the availability of dollars in the country.
Furthermore, it was emphasized that there is currently an oversupply of tires in Sri Lanka due to these imports.
Additionally, the association requested that measures be taken to impose restrictions on tire imports moving forward.
Latest Headlines in Sri Lanka
- Sri Lankan Government prioritizes accurate data systems to ensure food security January 23, 2025
- World Bank pledges $200 Million to support Sri Lanka’s economic recovery January 23, 2025
- Fitch upgrades 10 Sri Lankan banks’ ratings after sovereign upgrade January 23, 2025
- Anura Priyadarshana Yapa arrested January 22, 2025
- Namal Rajapaksa faces court over Rs. 70 Million Krrish land deal probe January 22, 2025
