The leasing facility provided on purchases of vehicles has been increased to 90 per cent of the value of the particle vehicle from today (29 October) says the Finance Ministry.

Steps are to be taken today for the Central Bank of Sri Lanka to inform this decision to the banks and financial institutions providing leasing and hire purchase facilities for the purchase of vehicles.

Though prior to this there were facilities available to purchase vehicles on a 100 per cent lease this facility was reduced to 70 per cent of the value following the new government’s fiscal policies. However, though there were later reports that this facility had been raised to 90 per cent, no official intimation had been made to the banks and financial institutions.