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Home Business & Finance Economic Policies

Sri Lanka rupee closes stronger, bond yields down todayheadline

May 9, 2025
in Economic Policies
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ECONOMYNEXT – Sri Lanka President Anura Kumara Dissanayake’s office announced the second batch of bidding for the sale of 7 luxury and decommissioned vehicles and it said the move was a part of the government’s ongoing commitment to reducing public expenditure and ensuring fiscal discipline.

“The second phase of bidding has commenced for the sale of 27 luxury and decommissioned vehicles from the Presidential Secretariat,” the President’s Media Division (PMD) said in a statement.

The vehicles, manufactured between 1991 and 2016, include a range of high-end and utility models including two BMW cars, two Ford Everest SUVs, one Hyundai Terracan SUV, two Land Rover SUVs, one Mitsubishi Montero, three Nissan petrol cars, two Nissan-type motor cars, one Porsche Cayenne, five SsangYong Rexton SUVs, one Land Cruiser Sahara SUV, six V08 vehicles and one Mitsubishi Rosa air-conditioned bus, the PMD said.

“The initiative reflects the government’s ongoing commitment to reducing public expenditure and ensuring fiscal discipline.”

It said the tender documents are available from the Finance Division of the Presidential Secretariat on working days between 9:00 a.m. and 3:00 p.m. until 14th May and the vehicles can be inspected at Salusala premises, No. 93, Jawatta Road, up to the same date.

“This auction follows the successful first phase of the programme, during which 14 luxury vehicles, six decommissioned vehicles and various spare parts were sold. That phase included the auction of 15 vehicles, including nine Defender Jeeps,” the PMD said.

“It is important to note that the vehicles on offer were not allocated to the permanent staff of the Presidential Secretariat. They were utilised by advisors and other individuals appointed…. during the tenure of the previous President.”

In both 2015 and 2024, new governments in Sri Lanka strategically employed public campaigns to discredit their predecessors by highlighting the extravagant lifestyles of former officials—particularly their use of luxury vehicles.

After the 2015 presidential election, the government led by Maithripala Sirisena and Prime Minister Ranil Wickremesinghe showcased fleets of high-end cars allegedly used by ministers and top bureaucrats under Mahinda Rajapaksa’s administration.

Images of bulletproof SUVs, imported luxury sedans, and convoys of official vehicles were widely circulated to emphasize wasteful spending and corruption, aiming to reinforce the new government’s image as reformist and clean.

Similarly, in 2024, the government of President Anura Kumara Dissanayake adopted a nearly identical playbook.

Within weeks of taking office, his administration displayed dozens of luxury vehicles used by officials of the previous government—many of them allegedly imported without proper justification or under suspicious procurement deals.

These vehicles, parked in prominent public spaces and showcased through social media and press briefings, were used to stoke public anger over elite privilege and state mismanagement.

The goal was not only to highlight the scale of excess but also to legitimize austerity policies and push for anti-corruption reforms, even as critics questioned whether these displays were more performative than substantive. (Colombo/May 09/2025)


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