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Electric bike imports allowed, prices to double

26 Aug 2022

BY Dinitha Rathnayake  President Ranil Wickremesinghe, in a gazette notification issued on Tuesday (23), permitted the import of electric bikes, which were among the items banned in 2021, from August 2022 onwards. In the gazette notification issued on Tuesday, President Wickremesinghe allowed the import of electrical bikes, subject to import licences. For electric motorcycles, Rs. 4,000 would be the import control licence fee, while the same for bicycles would be Rs. 1,000. Meanwhile, the prices of electric bikes are to be increased in the next shipments, according to the sellers. Speaking to The Morning, sellers said that they have not received any shipment for two years, but that after the relaxing of the import restriction, the price could range from Rs. 400,000-500,000, whereas the earlier price was Rs. 192,000. The demand for electric bikes has also increased, according to the relevant websites. Meanwhile, materials for the construction sector are also allowed to be imported, as per the relevant gazette. However, it is not for any form of direct or indirect sale, or for the purpose of any approved hotel projects or Government projects that do not come under the purview of the Board of Investment (BOI). The import allowance is for those projects under construction or renovation at the stage of the laying of tiles or stones for the completion of condominium or mixed development projects, hotel projects, or Government projects.  This may be allowed by the Controller General of Imports and Exports, subject to the limit of the quantities of tiles or stones as certified in the bill of quantities of such projects, under the letter of credit or document on payment acceptance terms, with a minimum of a 180-day credit facility, on the recommendation of the Secretary to the Treasury and the approval of the Minister of Finance, on a case-by-case basis.


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