The Parliamentary Committee on Public Accounts (COPA) has been informed that 72% of the projected target for revenue through vehicle imports has been achieved by August this year.
Director General of the Department of Fiscal Policy of the Finance Ministry Kapila Senanayake said that by 05th August, total revenue had reached Rs. 316 billion, 72% of the projected target.
During the last meeting of the COPA, Deputy Secretary of the Treasury A. K. Senevirathne revealed that by 06th August, 1,278 Letters of Credit in USD (LCs) have been opened for 172,292 vehicles, which have been cleared.
Deputy Minister Chathuranga Abeysinghe meanwhile pointed out that revenue can be doubled during the course of the year, reaching 150% of the target.
Senevirathne noted that, based on current trends, revenue could surpass Rs. 450 billion target. (Islandnews)
