Sri Lanka, May 3 -- Prasad Manange, the President of the Vehicle Importers' Association of Sri Lanka (VIASL) has warned that vehicle prices are expected to increase in the near future due to the continued depreciation of the Sri Lankan Rupee against the US Dollar.

Manange stated that the rupee depreciation significantly impacted the cost of importing vehicles, leading to higher prices. He also pointed out that the recent hike in the Social Security Contribution Levy (SSCL) by 2.5% starting from May will further contribute to the price increase.

"The government expects a substantial income from vehicle imports, and if my calculations are correct, they are looking at around Rs. 700 billion from this source. We contribute significantly to ...