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CMTA urges action on government revenue leakage of Rs.40 billion

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Seated (L to R): Lakmal De Silva Chief Officer, Vehicle Sales, David Pieris Motor Company (Lanka) Ltd; Mahen Thambiah, Chairman, Kia Motors Lanka Ltd.; Gahanath Pandithage, Managing Director, Diesel & Motor Engineering PLC (DIMO); Andrew Perera, Chairman, Ceylon Motor Traders Association (CMTA.; Nalin Welgama, Chairman, Ideal Motors (Pvt) Ltd.; Charaka Perera, Group Chief Operating Officer, United Motors Lanka PLC; Tarindra Kaluperuma, Director, Stafford Motors (Pvt) Ltd.; and Jawahar Ganesh, Group Managing Director, Associated Motorways (Private) Limited

The Ceylon Motor Traders’ Association (CMTA), established in 1919 is the most senior automotive association in Sri Lanka affiliated with the Ceylon Chamber of Commerce, is calling for greater consistency, transparency and fairness in the policies governing the country’s automotive sector, stressing that a sustainable vehicle import framework must ensure a level playing field across the entire industry.

The Association’s concerns come at a time when the automotive sector continues to operate under significant fiscal and regulatory pressures, with recent policy measures, including the introduction of a 50% surcharge on vehicles, adding further complexity to an already challenging market. While the CMTA recognises the Government’s need to manage foreign exchange, generate revenue and regulate vehicle imports responsibly, it believes that such measures must be structured in a manner that does not disproportionately disadvantage legitimate businesses or distort competition between different segments of the market.

At the centre of the Association’s concerns is the continued application of a blanket 15% depreciation on the Cost, Insurance and Freight (CIF) value of used vehicle imports for duty calculation purposes. The CMTA maintains that this mechanism creates an unintended advantage for certain used vehicle imports, particularly when vehicles entering Sri Lanka as used units can be virtually identical to brand-new vehicles in terms of model, specification and, in most cases, mileage.

The Association estimates that the existing depreciation mechanism resulted in approximately Rs. 40 billion in lost to government revenue in 2025 alone. Without corrective action, a similar level of revenue leakage could occur in 2026, representing a significant loss at a time when government revenue remains critical to strengthening public finances and supporting national development.

The issue, the CMTA emphasises, is not about restricting consumer choice or opposing the used vehicle market rather, it is about ensuring that vehicles entering the country are assessed fairly and consistently, based on their actual value and circumstances. When two substantially identical vehicles can attract different levels of taxation simply because one has been registered overseas before being imported, the Association believes the resulting disparity warrants policy reconsideration.

The CMTA argues that the same principle of fairness should also apply when considering the impact of newer fiscal measures, including the recent 50% surcharge. Such a substantial additional cost can have implications across the automotive value chain, affecting vehicle prices, consumer affordability, business viability and the broader ecosystem supporting vehicle sales and after-sales services.



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USA–Sri Lanka Chamber of Commerce plans New York campaign to promote Tourism and Business

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The initiative will provide Sri Lankan businesses with a vital platform to introduce their products and services to the American market

Timing aligns with national policy discussions

By Sanath Nanayakkare

The USA–Sri Lanka Chamber of Commerce is exploring an innovative promotional initiative to showcase Sri Lanka’s tourism, cultural heritage, and commercial opportunities in the heart of New York City during the upcoming Christmas and holiday season.

The proposed campaign aims to bring Sri Lanka’s unique identity to one of the world’s most internationally recognized cities through a mobile digital billboard featuring high-quality photographs and videos highlighting the island’s natural beauty, rich heritage, and diverse commercial offerings. Designed to capitalize on New York City’s significant holiday-season foot traffic, the initiative will reach American consumers, international tourists, and potential business partners.

The digital showcase will feature pristine beaches, scenic mountains, waterfalls, tea plantations, wildlife, ancient cities, Buddhist heritage, traditional arts, authentic cuisine, and modern attractions, positioning the country as a premier international travel destination. An interactive QR code linking to comprehensive tourism information will also be incorporated, allowing viewers to directly explore travel opportunities.

Beyond destination promotion, the initiative provides Sri Lankan businesses with a vital platform to introduce their products and services to the American market. Enterprises representing Ceylon tea, spices, food products, gems and jewellery, apparel, handicrafts, wellness, hospitality, and tourism will have the opportunity to showcase their brands alongside the broader national campaign.

The Chamber notes that this effort will be particularly beneficial for small and medium-sized enterprises (SMEs) seeking greater international exposure, brand recognition, and commercial partnerships in the United States. By integrating tourism promotion with commercial visibility, the project aims to strengthen Sri Lanka’s international image while supporting trade, investment, and business development.

Operating under the central message of “Discover Sri Lanka. Experience Sri Lanka. Visit Sri Lanka,” the campaign presents the island as a destination defined by natural beauty, cultural richness, distinctive products, and entrepreneurial potential. More information on the initiative is accessible at www.usaslcc.org.

Tourism sector stakeholders have welcomed the move, noting that private-sector-led initiatives of this nature bypass cumbersome bureaucratic procurement procedures and complex tender processes typically associated with state-run promotional campaigns abroad.

The timing aligns with recent national policy discussions regarding tourism promotion. Participating in a Fireside Chat at the inauguration of the Sri Lanka Economic and Investment Summit 2026, organized by the Ceylon Chamber of Commerce, President Anura Kumara Dissanayake emphasized that a proper procurement mechanism needs to be established before acquiring tourism promotional concepts, recommending a performance-based system where agencies are compensated according to verified growth in tourist arrivals.

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Seylan Bank partners Colombo Motor Show 2026 as official banking and leasing partner

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For 10th consecutive year

Seylan Bank PLC, the Bank with a Heart, has reaffirmed its commitment to supporting Sri Lanka’s automotive industry by partnering with the 20th edition of the Colombo Motor Show 2026 as the Official Banking & Leasing Partner for the 10th consecutive year. This makes Seylan Bank the longest-standing partner of the Colombo Motor Show, further reflecting its longstanding association with one of Sri Lanka’s most prominent automotive exhibitions. The four-day exhibition is scheduled to take place from 20th to 23rd November 2026 at the Bandaranaike Memorial International Conference Hall (BMICH), marking the first time the Colombo Motor Show will be held as a four-day event.

As one of Sri Lanka’s leading international motor and motor accessories exhibitions, the Colombo Motor Show will bring together vehicle enthusiasts, prospective buyers, industry professionals and automotive service providers. The 2026 edition is expected to feature over 200 trade stalls covering motor vehicles, accessories, spare parts, lubricants, tyres, batteries, leasing facilities and other motor-related services.

Through its continued partnership, Seylan Bank will showcase a comprehensive range of financial solutions designed to support customers in meeting their personal and business needs, with a particular focus on Seylan Leasing facilities. Visitors to the exhibition will have the opportunity to receive on-the-spot leasing evaluations and expert guidance from Seylan Leasing Specialists, helping them explore vehicle financing options conveniently during the event.

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WCIC sharpens focus on scaling women-owned businesses

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WCIC Office Bearers

The Women’s Chamber of Industry and Commerce (WCIC) is sharpening its focus on helping women entrepreneurs move beyond business creation towards sustainable growth, as it expands its membership, partnerships and advocacy footprint.

WCIC Chairperson Gayani de Alwis, concluding her second tenure, highlighted the Chamber’s efforts had increasingly centered on creating pathways for women to translate entrepreneurial ambition into viable enterprises and, importantly, build those businesses for the longer term.

“Ultimately, our impact is not measured by the number of programmes we conducted, but by the women whose businesses grew, whose voices became stronger, whose horizons expanded and whose contribution to the economy became greater,” she said addressing the WCIC 41st Annual General Meeting (AGM) held on 22 September for which the Chief Guest was Canadian High Commissioner to Sri Lanka and the Maldives Isabelle Martin.

The focus has included a special initiative for female university students with an entrepreneurial mindset, regional chapter initiatives in the Northern Province, capacity-building programmes and the inaugural ‘Beyond Ramp Up’ workshop.

The Chairperson said these initiatives were designed to move women “from aspiration to enterprise, and from enterprise to sustainable growth”, signaling a broader focus on strengthening the progression of women entrepreneurs beyond the initial stages of business formation.

WCIC recorded a 20 percent increase in membership during the period with membership crossing 460 and expanded its ecosystem through a series of strategic partnerships.

Internally, WCIC moved to strengthen its governance framework, revising its Articles of Association to ensure regulatory compliance and introducing a Code of Conduct and Board self-assessment. Clearer organisational roles, job descriptions and performance targets were also introduced as part of efforts to strengthen accountability and professionalise its operations.

Reflecting on her tenure, the Chairperson said the period had been about building a stronger, more connected and professionally governed organisation, while converting its wider ambitions into tangible opportunities for women in business.

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