Minister of Industries, Wimal Weerawansa recently inspected Lanka Ashok Leyland’s factory in Jalthara, Homagama.
The factory has not been operational since 1994, has resumed operations after 27 years.
42% of the company’s shares are owned by Lanka Leyland Company which operates under the Ministry of Industries.
After the inspection, MP Weerawansa stated that the Ministry has publicized the Standard Operating Procedure (SOP) on the vehicle manufacturing, vehicle assembling and auto accessories manufacturing industries, the local vehicle assembly industry receives tax concessions in proportion to the local value-added percentage, limiting the import of vehicles to Lanka Ashok Leyland and opening its own vehicle assembly factory to produce cheaper vehicles in the country.
Adding that using the tax breaks and market opportunities provided to the automotive assembly and automotive manufacturing industries through the aforementioned Standard Operating Procedure (SOP) to create new employment opportunities for Sri Lankan technology and engineering graduates in future.
Stating that his aim is to upgrade thousands of locally assembled and auto parts manufactured locally.