Transport wastage could save US $ 220 m

Ramani Kangaraarachchi

Sri Lanka could save a huge amount of foreign exchange if wastage on transport is reduced. This could be done by introducing new technology.

S.S.Impex Chairman Samson Silva told Daily News Business that in 2009 the country has imported US $ 2.2 billion worth of fuel and if 10 percent is saved on wastage it will be a saving of foreign exchange worth around US $ 220 million.

He said vehicle registration has remarkably increased with the reduction of import duty and the Registrar of Motor Vehicles has registered over 217,000 vehicles this year up to August. There are around 2.5 million vehicles on the high ways.

“Eighty percent of them are either used or reconditioned according to Registrar of Motor Vehicles. Since 80 percent of vehicles are used before coming to Sri Lanka causing a huge repair and maintenance cost during a short period.” he said.