Sri Lanka has imported over 200 electric vehicles (EVs) thus far through migrant workers, while the next batch of permits to import electric cars is to be extended by the Government depending on the foreign remittance the expatriates have sent, The Daily Morning Business learnt.
Speaking to The Daily Morning Business yesterday (10), Ministry of Labour and Foreign Employment Media Secretary Sanjaya Nallaperuma stated: “Government approval to import EVs is only given for a period of one year, yet migrant workers can extend the counting time period as it is they who have brought in foreign remittance to the country within the period through legal channels.”
Moreover, Labour and Foreign Employment Minister Manusha Nanayakkara, taking to his official X account (Twitter), posted that remittances had climbed to $ 4,345.1 million from January to September this year, a 68.8% increase compared to the same period in 2022. Workers' remittance for September was $ 482.4 million.
The Minister had previously said in May this year, that there was a modest decline in remittance inflows in April compared to March, the latter which totalled $ 568 million.
Nallaperuma noted that workers’ remittance inflow is high from countries such as South Korea, those of the Middle East, and Dubai.
According to the Ministry website, a vehicle imported in this way cannot be transferred to a third party until two years after its registration. The subject Minister also said that, for persons wanting to transfer ownership before two years, facilities have been provided to do so by making a payment in United States dollars equivalent to 10% of the CIF value of the vehicle.
The website further said: “Any Sri Lankan who lives, works, or holds dual citizenship in a foreign country is eligible to import an EV under the scheme. Those sending $ 20,000 or more between 1 May and 31 December 2022, can obtain a permit to import an electric car. Those who remit $ 3,000 or more via official channels from 1 May 2022 to 1 May 2023 are eligible to import an electric motorcycle.”
Nallaperuma stated that apart from EV permits and duty free allowance, the Ministry is to arrange a loan scheme for migrant workers at low interest in the coming days.
“Expatriates will get the chance to obtain a loan for a 4% interest rate, yet they have to pay it in dollars,” he explained.