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Message: <blockquote data-quote="lkdood" data-source="post: 12299916" data-attributes="member: 92282"><img src="http://www.japan-partner.com/images/39dff27e09/mercedes-benz-ml-03e39f1a65_t.jpg" alt="" class="fr-fic fr-dii fr-draggable " style="" />Sri Lanka's central bank has asked banks to limit credit to buy motor  cars, in a bid to reduce imports, as the country faced balance of  payments pressure and lost more than a quarter of its foreign reserves.The Central Bank said vehicle dealers had built up large inventories of  cars over the past few months and banks may "prudently consider the  limitation of credit for the import of motor vehicles, which would, in  turn, lead to the easing of pressure on import expenditure." Spot US dollar was quoted around 124.60/80 rupees in afternoon trade. Sri Lanka has in the past jacked up taxes on goods considered by rulers  and state officials to be 'luxury' for ordinary citizens, including  motor cars which they get either completely tax free or at tax-slashed  prices. LBO</blockquote>

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