Deputy Minister of Finance Anil Jayantha Fernando has dismissed opposition allegations that Letters of Credit (LCs) were opened for 4,000 vehicles on May 15, the day before a 50 percent surcharge on vehicle imports was gazetted.
Speaking during a televised interview, Fernando said the actual number was far lower. “The claim that 4,000 vehicles had LCs opened is a baseless lie. The actual number is 1,782,” he said.
According to the Deputy Minister, 380 LCs were opened on May 15, covering 1,782 vehicles valued at USD 23.71 million. Opposition figures of 4,000 vehicles and a Rs. 40 billion exposure were “exaggerated, misleading and completely false,” he said.
“By claiming such high figures, they are attempting to mislead the public by creating an illusion that there were issues in the country. The public also falls victim to such claims and ends up carrying out unnecessary purchases and measures, causing them loss. I request the public not to believe unverified statements on social media.”
The intervention is the government’s first detailed rebuttal of the LC claim first raised by SJB parliamentarian Niroshan Padukka, who said leaked records showed 4,000 LCs worth Rs. 40 billion were opened in the 24 hours before the 50 percent customs surcharge gazette took effect for three months.
CBSL Governor Nandalal Weerasinghe earlier framed the wider USD 600 million Q1 vehicle import bill as one of the structural pressures behind the rupee depreciation, with full-year imports tracking toward USD 2.4 billion against the Finance Ministry’s USD 1.5-1.7 billion projection.
