Sri Lanka’s John Keells CG Auto denies claims of vehicle import before surcharge

JKCG Rejects Allegations Over Advance Knowledge of Vehicle Import Surcharge - LNW Lanka News Web

John Keells CG Auto (JKCG) has strongly denied allegations claiming the company had prior knowledge of the government’s recent surcharge on imported motor vehicles and acted in advance by establishing Letters of Credit before the Gazette notification was issued. In a statement released on May 22, 2026, JKCG said the allegations circulating publicly are “false” and clarified that no Letters of Credit were established for BYD vehicles on the day i…

Some vehicle traders ‘more equal’?

Saturday 23rd May, 2026 SJB MP Mujibur Rahman has alleged in Parliament that on the eve of the announcement of a 50% customs duty surcharge on vehicle imports, Letters of Credit (LCs) for 1,782 vehicles had been opened by three close associates of President Anura Kumara Dissanayake. Previously, the Opposition claimed that the number of LCs opened on that day exceeded 4,000. Rahman said the number of LCs opened during the week prior to the announ…

Sri Lanka Sees Surge in Vehicle LC Openings with Over 9,400 in a Single Day Following 50% Surcharge, Reports Official

FINANCIAL CHRONICLE – On the initial day of implementation, over 9,400 letters of credit (LCs) were issued for the import of new personal vehicles in […] The post Sri Lanka Sees Surge in Vehicle LC Openings with Over 9,400 in a Single Day Following 50% Surcharge, Reports Official appeared first on FINANCIAL CHRONICLE.

Govt will not restrict vehicle imports: Deputy Finance Minister

Deputy Finance Minister Anil Jayantha Fernando today emphasized that the government has no intention of restricting vehicle imports or allowing the economy to contract. Fernando explained that the recently announced 50% surcharge on personal vehicle imports was introduced as a temporary measure to ease pressure from the rising dollar rate by postponing imports of personal vehicles for a few months.  He stressed that the surcharge was not meant t…

Sri Lanka’s John Keells CG Auto denies claims of vehicle import before surcharge

ECONOMYNEXT – John Keells CG Auto, the distributor for BYD passenger vehicles in Sri Lanka, has rejected claims that the company had prior knowledge of a surcharge on vehicle imports and that it opened Letters of Credit on the day before the announcement. “JKCG categorically rejects this claim and states that the company had no prior knowledge of the surcharge. No Letters of Credit were established for BYD vehicles a day immediately prior to the…