The Ceylon Motor Traders Association (CMTA) has raised concerns over a serious crisis looming ahead for vehicle users in Sri Lanka.
Raising concerns about the difficulties in establishing LC facilities with regards to spare parts orders, the CMTA said these unofficial restrictions by banks have begun to cripple Sri Lanka’s vehicle fleet maintenance.
“These restrictions will have a direct impact on goods and people transportation as well as the overall economy. If the transportation sector grinds to a halt, that would have a severe impact on the main revenue lines of the country such as exports & tourism, which are heavily reliant on the availability of transport,” the Association warned.
The CMTA further pointed out that many vehicle owners are resorting to dangerous patch repairs, usage of non-genuine spare parts, and used spare parts imported from overseas junkyards, which poses a great risk for vehicle users and the public.
These restrictions and delays of LC facilities have also resulted in the inability for legitimate franchise holders to predict the supply or price of spare parts creating uncertainty and panic across the automotive market, it revealed.
The CMTA urged the relevant authorities to pay attention to the plight of the automotive industry and identify spare parts as an essential goods category to keep Sri Lanka’s ageing vehicle fleet functioning. (NewsWire)