Motor Traders elects new Chairman at 104th AGM

From left: CMTA new Senior Vice Chairman Andrew Perera, Ceylon Chamber of Commerce Chairman and Chief Guest Duminda Hulangamuwa, CMTA new Chairman Virann de Zoysa and Immediate Former Chairman Charaka Perera at the AGM

Ceylon Motor Traders’ Association new Ex-Co with past CMTA Chairmen, office-bearers, and committee members

We maximised Government revenue per dollar of import, which reached an average of $ 1.60 Government revenue for every dollar of import by 2017. However, inconsistent policy changes noted in the recent past impacted this contribution negatively changing the sector’s attractiveness to the Government and possibly leading to the subsequent import restriction. This is indeed a misstep - Ceylon Motor Traders Association new Chairman Virann de Zoysa

The CMTA has been strongly lobbying to regulate the vehicle importers, prior to opening up the market. We have also proposed for vehicles to be subjected to an additional 140% duty, with a 20% quarterly reduction, in the additional duty. This will discourage over-stocking of vehicles for future sales, which will mitigate the forex outflow - Ceylon Motor Traders Association outgoing Chairman Charaka Perera

Ceylon Motor Traders Association (CMTA), one of South Asia’s oldest automotive associations, recently held its 104th Annual General Meeting (AGM).

The event was held under the auspices of Chief Guest Ceylon Chamber of Commerce Chairman Duminda Hulangamuwa. The event was attended by over 140 dignitaries comprising of the Government sector, diplomatic missions and private sector

 Chief Guest and Keynote Speaker Ceylon Chamber of Commerce Chairman Duminda Hulangamuwa also addressed the gathering. During this address he stated, “The motor vehicle industry must fundamentally rethink its business strategies. From a policy perspective, it is unlikely that any future Government will adopt a liberal approach to issuing permits for vehicle imports on a concessionary basis as was done previously. Additionally, the exchange rate was artificially maintained at a subsidised level, from which we all benefited. This consumption led to the depletion of our reserves, a considerable portion of which was allocated to vehicle imports. Another area of concern was the malpractice of the grey market in the motor vehicle industry as seen recently with the foreign migrant worker scheme for electric vehicles, he stressed the importance of strict regulation and action for those abusing the system.

 AMW Manufacturing Director Virann de Zoysa was elected as Chairman and Kia Motors Lanka Managing Director Andrew Perera was appointed Senior Vice Chairman and David Pieris Motor Company General Manager Lakmal de Silva was appointed Vice Chairman.

Addressing the AGM, de Zoysa said: “Today as the automotive imports sector we find ourselves in the most challenging of circumstances with imports restricted for over four years. We maximised Government revenue per dollar of import, which reached an average of $ 1.60 Government revenue for every dollar of import by 2017. However, inconsistent policy changes noted in the recent past impacted this contribution negatively changing the sector’s attractiveness to the Government and possibly leading to the subsequent import restriction. This is indeed a misstep and something that must be addressed by working together with our stakeholders. I believe supporting the Government in sustainable policy and regulation is a key focus for CMTA.”

Outgoing Chairman Stafford Motor Co Ltd., Director/COO Charaka Perera said: “The CMTA has been strongly lobbying to regulate the vehicle importers, prior to opening up the market. We have also proposed for vehicles to be subjected to an additional 140% duty, with a 20% quarterly reduction, in the additional duty. This will discourage over-stocking of vehicles for future sales, which will mitigate the forex outflow. During the last two years, CMTA was appointed to several Ministerial and Cabinet Appointed committees, to work on regulations and industry development. As Chairman, I have done my very best over the last two years, to guide the association to face the impending challenges and to sustain CMTA as the voice of the motor industry. I wish CMTA the very best.”

Ceylon Motor Traders Association was established in 1919 and has been at the forefront of Sri Lanka’s automotive industry, which greatly contributes to the country’s economy. Furthermore, it has created a platform for employment both locally and overseas. The CMTA is closely affiliated with the Ceylon Chamber of Commerce, and also holds several international accreditations. The association also represents all automotive manufacturers via local agents with the objective of safeguarding the industry and its members.

- Pix by Ruwan Walpola -