As a result of the increase the popular Japanese vehicle imports are to be drastically reduced. According to Motor vehicle importers association President there will be a shift from Jap vehicles to Indian assembled/manufactured vehicles.
On the other hand Japan has come up with a big helping hand with an assistance of a staggering US$4b towards infrastructure development in Sri Lanka. So, in this backdrop, will the Govt want to curtail drastically Jap vehicles imports?
Finally as usual people who collect this sector shares will benefit when this is reversed. Not something uncommon or unusual under this Govt.
NEVER BITE THE HAND THAT FEEDS!