Budget 2018: Sri Lankan government promotes solar charging stations for electric car market
The government of Sri Lanka has proposed the slashing of taxes on electric cars by Rs. 1 million as well as electric buses in the Budget 2018. Tax cuts will also be cut for electric three wheelers.
Finance Minister Mangala Samaraweera presenting the 2018 budget in parliament yesterday (9) said that solar power charging stations would be set up island wide.
Samaraweera explained that the private sector in the country would be encouraged to set up the required electric charging stations.
The government noted that the reduced duties for electric vehicles are a positive from an environmental perspective.
By maintaining a significant tax differential between petrol/diesel vehicles and hybrids and electric vehicles will encourage people to switch to non-fossil fuel vehicles.
The Budget ambition as explained by Samaraweera is to convert Sri Lanka to a non-fossil fuel vehicle country by 2040, which is commendable. The government will be taking the lead in this regard by converting to hybrid and electric by 2025.
OSL take:
The government’s move to encourage the use of electric vehicles and promote the use of renewable energy forms for charging purposes has opened up an opportunity for the local private sector.
| Article Code : | VBS/AT/10112017/Z_7 |