Sri Lanka: Vehicle Import Revenue Skyrockets as Government Collects LKR 904 Billion

By Lions Roar News Economy & Parliament Desk

COLOMBO, SRI LANKA (Wednesday, January 21, 2026) — Sri Lanka’s national treasury has received a massive boost from the resumption of vehicle imports, with revenues more than doubling initial projections. Deputy Minister of Economic Development Nishantha Jayaweera informed Parliament yesterday (20th) that the government has already collected LKR 904 billion (Rs. 90,400 Crores) in revenue, far exceeding the original target of LKR 441 billion (Rs. 44,100 Crores).

The Deputy Minister made these remarks while responding to a query raised by MP Rohitha Abeygunawardena regarding import surcharges and vehicles stranded at the Hambantota Port.

💰 Revenue Surplus & Forex Strategy

Deputy Minister Jayaweera explained that the unexpected revenue surge is tied to the strategic surcharges imposed on importers.

The Goal: The surcharges were designed to manage the outflow of foreign exchange and ensure the stability of the country’s reserves.
The Result: High demand for imports despite these surcharges has led to a revenue windfall for the government.

📉 The “Consumer Burden” Debate

MP Rohitha Abeygunawardena raised concerns about the escalating costs for everyday citizens. He pointed out a sliding tax scale that penalizes delays:

The Tax Hike: Vehicles face a 3% tax within the first 90 days, which can climb to a staggering 45% within five months.
Consumer Impact: Abeygunawardena argued that these costs are ultimately passed on to the buyer, making vehicles unaffordable for the average Sri Lankan.

🚢 The Hambantota Port Crisis

A significant point of contention remains the 1,000 luxury vehicles that have been stuck at the Hambantota Port for over a year.

The Deterioration: Abeygunawardena warned that these high-end vehicles are rotting due to sea spray and weather exposure. “Our national wealth has already been converted to dollars for these cars; if they stay longer, they will be unusable,” he warned.
The Legal Stand-off: Deputy Minister Jayaweera revealed that the matter is currently before the courts. However, he noted that the Ministry of Finance has issued a circular allowing some importers to release their vehicles under specific conditions. Because the case is ongoing, the Minister declined to discuss the specific settlement mechanism in detail.

📊 Sri Lanka Vehicle Import Snapshot 2026

Metric	Target Revenue	Actual Revenue
Government Income	LKR 441 Billion	LKR 904 Billion
Import Surcharge	Progressive (3% – 45%)	High Collection
Stranded Stock	Hambantota Port	~1,000 Luxury Units
Status of Stranded Units	Under Litigation	Finance Ministry Circular Issued