The Hon. Riyas Farook

¶ 01 Hon. Deputy Speaker, during this debate on imposing duty on imports, Opposition Members speak loudly about the economy. They know the situation we inherited.

¶ 02 The previous Government halted vehicle imports overnight. Large numbers of vehicles with opened LCs were in ports; more were en route. The ban came abruptly; banks refused to accept the documents. Some vehicles are still rusting at the port; some were taken, many remain. In 2015 as well, duty was suddenly increased while ships were on the way—duty on a Rs. 3.5 million vehicle was doubled to Rs. 7 million. Those vehicles also ended up stuck, some at Hambantota. Those who presided over such chaos now lecture us.

¶ 03 We are reopening methodically and rebuilding trust. Even now, Japanese banks hesitate and say they will not bear responsibility for documents prepared on verbal assurances from importers rather than proper written instruments. This is the damage done to our credibility.

¶ 04 We are putting in place a predictable system so everyone can import with confidence. Corruption plagued the past, including the sugar tax scam. Even vehicle age limits were manipulated—moving from five to seven years—after doing deals with Japanese exporters and buying up stock before gazetting. Then they slammed the door shut and profited. We will run a proper process. We seek your cooperation. Thank you.