Green cars, red light for Sri Lanka

ECONOMYNEXT – The flood of electric cars may be a dream come true for a well-heeled few, but do they really contribute to a cleaner environment or fill state coffers in the same way as other motorists? Electric cars are more expensive than petrol, or diesel-powered vehicles, which means more foreign exchange leaves the country to import an electric vehicle (EV). The tariff on an EV is also much lower than that on a fossil fuel-powered vehicle. As a result, the state earns far less tax revenue on every dollar spent to import an EV. While the prohibitive 200 percent…

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