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Wednesday October 5th, 2022

Sri Lanka to promote electric vehicles with renewable power expansion

About five years ago Sri Lanka slashed taxes on electric vehicles leading to a massive revenue drain as electric cars were bought to avoid taxes as other vehicles are usually taxed at over 200 per cent in the country.

ECONOMYNEXT – Sri Lanka will develop a strategic plan to promote electric vehicles in line with an expansion in renewable energy Cabinet spokesman Minister Keheliya Rambukwella said though the country.

“The cabinet has approved to prepare a strategic plan to create the background needed to import and promote the use of electric vehicles,” Minister Ramukwelle told reporters.

The proposal was submitted by the Minister of Environment. A study by the University of Moratuwa has found that 60 per cent of the air pollution was caused by vehicle emissions, the proposal had said.

Sri Lanka sells diesel, a carcinogenic substance, which also emits nitrous oxides in combustion while overpricing unleaded petrol.

The proposal had said that out of a vehicle population of 8 million, an unspecified ‘considerable number’ was over 10 years old and claimed they emitted ‘poisonous gases’.

Whether the old cars were diesel or petrol was not mentioned. Due to under-pricing and low taxation of diesel, almost all commercial transport vehicles are diesel-powered.

The renewable energy industry, in general, has worked with subsidies but many technologies including wind and solar have now matured to a point where their costs are competitive.

About five years ago Sri Lanka slashed taxes on electric vehicles leading to a massive revenue drain as electric cars were bought to avoid taxes as other vehicles are usually taxed at over 200 per cent in the country. (Colombo/July13/2021)

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