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| Tuesday, 13 January 2004 |
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by Anjana Gamage A strike threat by private bus operators was called off yesterday following an undertaken by the Government to withdraw the 15 per cent VAT levy on bus lease rentals. The strike was called off by Lanka Private Bus Operators Association (LPBOA) after Deputy Finance Minister Bandula Gunawardena and Consumer Affairs Minister Ravi Karunanayake promised yesterday to remove the 15 per cent lease rental tax on buses, LPBOA, Chairman Gemunu Wijeratne told the Daily News. According to Wijeratne Ministers Gunawardena and Karunanayake along with Treasury officials agreed to remove the 15 percent VAT introduced from January at the special discussion with LPBOA members yesterday. Meanwhile, Minister Gunawardena told the Daily News that an agreement was reached at yesterday's meeting that there will be no increase in the instalments of rentals paid by private bus operators. "They will pay the same amount as they have been paying as at January 1," he added. According to the Minister most private bus operators have purchased buses on lease and have already agreed to pay the 10 per cent VAT levy. However they were not prepared to pay the five per cent increase on the instalments as it would compel them to increase bus fares." Therefore at yesterday's meeting we promised them that there will be no increase in the instalments, he said. Meanwhile a special committee comprising members of the Lanka Private Bus Operators' Association,and officials of the Ministries of Finance and Consumer Affairs were appointed yesterday to make recommendations to the government in respect of those purchasing buses. According to Gunawardena, the recommendations will be presented to the Economic Policy Committee today expected to be attended by the Prime Minister. |
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