Sri Lanka Tyre Import Controls Face Public Backlash
- 5opn1
- January 7, 2025
- Business News
- Sri Lanka Tyre Import Controls Face Public Backlash
- 0 Comments
Sri Lanka’s Trade Minister, Wasantha Samarasinghe, faced backlash after revealing a request from local tyre manufacturers to impose further import controls.
The manufacturers argued that sufficient local products were available and claimed import restrictions would lower prices and save foreign currency.
However, the proposal drew criticism from nearly 700 online commenters, who warned that such measures would harm consumers and echo exploitative practices of past administrations.
Critics highlighted that the local solid tyre sector, which thrives on exports, succeeded without protectionist policies. Commenters urged the government to prioritize consumer interests, foster global competitiveness, and avoid protectionist measures that stifle competition and degrade product quality.
Netizens emphasized that reliability and safety, not patriotism or cost-saving measures, drive consumers toward high-quality imports like Japanese tyres. Many pointed out that Sri Lanka already imposes a 115% tax on foreign tyres, making additional restrictions unnecessary and potentially damaging to consumer welfare.
Commenters reminded Minister Samarasinghe of past instances where local producers, under protectionist policies, raised prices by up to 300%. They warned that further reducing competition would only repeat this pattern, enriching domestic manufacturers at the expense of consumers and state tax revenue.
The public urged the government to promote market-driven solutions and resist pressure from vested interests. Calls were made for incentives to enhance local industry standards rather than limit consumer choice and safety by curbing imports.
