Leasing, Hire purchase:
Disbursements to top Rs 190 b
With positive economic outlook:
Charumini de Silva
The local leasing and hire purchase industry is targeting over Rs 185
billion disbursements for this year with the favourable economic
condition in the country. Leasing Association of Sri Lanka (LASL)
Chairman Sanjeewa Bandaranayake said the disbursements which were about
Rs 105 billion last year will increase to about Rs 185 to 190 billion
from the figures they see up to now.
Sanjeewa Bandaranayake |
The total outstanding from finance lease and hire purchase increased
from about Rs 240 to Rs 340 billion.
“There was a positive direct impact from the favourable economic
environment that has benefited the industry commendably,” he said.
The finance leasing and hire purchase industry has grown by over 80
percent in the past financial year ending March 31 as far as new
disbursements are concerned.
He said the performance of the industry is remarkable and it was
beyond expected results. “We are confident that the finance sector will
perform well and keep the impetus.
The reduction of duty helped to increase the economic activities.
Therefore, the sale of commercial vehicles increased drastically,” he
said.
The key sectors that contributed to the growth of the industry were
service sector by 27 percent, trading by 21 percent and transport by 13
percent.
“The leasing industry has seen a remarkable improvement continuously
and the industry is experiencing the growth,” Bandaranayake said. |