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News  


 

Motor vehicle prices may go up

By Srian Obeyesekere
There is a possibility of prices of motor vehicles further escalating if the Japanese yen went up in the wake of the recent Japan tsunami, according to market experts.
They warned that Sri Lanka should also guard against the possibility of radiation contaminated vehicles and spare parts coming into the country.

“There is a possibility of the Japanese yen which is high to the rupee at Rs. 1.38 at the moment going up further following the tsunami disaster. That is if the Japanese yen gets very strong. This could cause prices of motor vehicles to go up,” the Chairman of United Motor Limited, Chanaka Yatawara told The Nation yesterday.
He further cautioned that there was every possibility of radiation contaminated vehicles and spare parts ending up in Sri Lanka against which the authorities needed to be guarded.

“Every precaution should be taken,” he warned.
Yatawara also said that certain companies in the North East of Japan where the tsunami had hit had suffered a slight logistical setback where workers and travel had been affected. But by now that had returned to normal without hampering exports to Sri Lanka.

The Chairman of United Motors Plc, Ranjith Fernando also agreed that there is a possibility of radiation affected vehicles and parts entering the local market.
“That possibility is there although the Japanese authorities usually have strict export criteria. But there is a danger because usually Sri Lankan dealers themselves make the shipments from that end,” he said.
Annually, approximately 5,000 brand new Japanese vehicles are imported. .
Meanwhile, fears as to whether a ban would be slapped down on vehicle and food imports from Japan were quelled by the Colombo Ports Authority.

Shipments were coming as usual and the tightest deterrent measures taken against radium contaminated products, according to the Managing Director of the Ports Authority, Capt. Nihal Keppitipola.
“Shipments are coming as usual and each and every container is checked for radiation using a tester called the portal which can detect any type of contamination,” Capt. Mendis told The Nation yesterday.