This was proposed in a cabinet memorandum submitted by the Ministry of Investment promotion recently.

In addition to it, a proposal has been made to grant this facility for a minimum investment of US$50 million by companies with the approval of Board of Investment (BOI) or new companies entering into such agreements.

This move has been made by the government authorities with some ulterior motives for the benefit of a leading company in vehicle import and assembly business in Sri Lanka, frontline members of the Vehicle Importers Association of Sri Lanka (VIASL) alleged.