Streamline archaic regulations to become logistics hub | Daily News

Streamline archaic regulations to become logistics hub

Sri Lanka has de facto policies to promote the private vehicle as the mainstream mode of transport which is completely a mismatch for a country like Sri Lanka both from an economic perspective and from a demographic perspective, says Prof. Amal Kumarage-University of Moratuwa.

According to Prof. Kumarage private vehicle transport today is subsidized and in Sri Lanka all the transport costs have increased except expressway toll. Prof.Kumarage said five to six million private vehicles are currently operating in the country while at least USD 15 billion is locked in to rolling stock on the road at the moment.

Emphasising the need to modernize the entire bus service in the country, Prof. Kumarage said the treasury has engulfed this very mythical belief that short-term tax revenue can be obtained through importing fuel, odds of vehicles.

“We are in fact burning the candle at the other end and finally economics has caught up with us. And pricing is the most influential variable that can actually bring this to a workable platform. Speaking further Prof. Kumarage said archaic regulations too need to be streamlined to fit the modern world and there’s no other way that the country can become an international logistics hub with policies like that.

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