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Sunday, 26 December 2010

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Transport sector grows by 12% in 2010

The transport sector has recorded a 12 percent growth during the first six months of 2010 against the five percent growth recorded in the same period of 2009.

According to Finance Ministry sources, the registration of motor vehicles has increased by 71 percent to 185,595 as a result of Government initiatives to slash import taxes on motor vehicles by about 50 percent.

The registration of buses has increased by 225 percent to 1,101 buses during the January-July period in 2010. The registration of three-wheelers, vehicles transporting goods and motorcycles has increased by 135 percent, 105 percent and 58 percent respectively during the first seven months of 2010, the sources said.

The sources said the Government continued its efforts in upgrading the transport service by adding 280 reconditioned buses to the existing fleet of the Sri Lanka Transport Board.

Meanwhile, the Sri Lanka Railways also initiated several projects this year to rehabilitate and reconstruct railway lines. The rehabilitation of the Colombo-Matara railway line is in progress with Indian assistance while the reconstruction of the Northern railway infrastructure from Medawachchiya to Talaimannar and Omanthai to Palali has been initiated with assistance from India and China.

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