A massive debate has erupted over the government’s financial discipline after former Minister Chandima Weerakkody alleged that Prime Minister Harini Amarasuriya is now traveling in a luxury Mercedes-Benz Maybach, valued at approximately one billion rupees, at a time of severe economic crisis and vehicle import restrictions.
Weerakkody revealed this information at a press conference held at his residence. He accused the Prime Minister of now using the country’s most expensive luxury vehicle, despite initial videos and photos circulating of her using a double cab. Political analysts point out that his further statement, “they are preparing to give double cabs to other MPs to shut them up,” confirms the culture of luxury within the government.
Central Bank Decision Dashes Hopes for Average Citizens!
While such extreme luxury prevails at the highest levels of government, the Central Bank of Sri Lanka has taken a drastic decision, making it even harder for ordinary citizens to purchase essential vehicles. Despite vehicle import restrictions, the Central Bank has re-amended the Loan-to-Value (LTV) ratios for vehicle leasing facilities, a decision directly impacting the market.
According to the new amendment, the maximum loan amount available for all private vehicles, including cars, vans, and three-wheelers for personal use, has been further reduced to 50% of the vehicle’s total value. Previously, this ranged from 60% to 70%.
This clearly indicates that an average family will now have to pay half (50%) of the cost upfront to purchase an essential vehicle for their daily activities or work. Critics argue that this demonstrates the government’s double standard: while its leaders travel in billion-rupee vehicles, the Central Bank, an arm of the same government, restricts the basic needs of ordinary citizens.
