Sri Lankaâs Presidential Secretariat raised over Rs. 200 million by auctioning 17 luxury vehiclesâincluding BMWs, Porsches, and Ford Everestsâpreviously used by presidential advisers and staff.
These vehicles, manufactured between 1991 and 2016, were part of the second phase of auctions. The first phase, held in February, attracted 199 bidders for 15 vehiclesâincluding Defenders, Volvos, Chryslers, and Toyotas.
Some have questioned whether the prices were too low. However, the process followed the governmentâs official procedures. Valuations were conducted by the Government Valuation Department and the Department of Motor Traffic, taking into account vehicle type, mileage, and condition.
The Valuation Department follows established guidelines when assessing vehicles. For example, their assessments do not consider current taxes or market prices. At the time of auction, the departmentâs valuation is kept confidential.
The auction intended to sell 26 vehicles, but only 17 received bids exceeding the government valuation. As a result, 9 vehicles were not sold.
Ex-government vehicles typically have high mileage, multiple users (who may not prioritize maintenance), and incomplete service recordsâall of which significantly reduce resale value compared to privately owned vehicles. Additionally, there is no return policy.
Any citizen could purchase tender documents for Rs. 5,000 each, inspect the vehicles, and submit sealed bids. These bids were opened on auction day, ensuring a fair and transparent process.
From a taxpayer's perspective: There is little justification for the government to maintain highly fuel-inefficient, high-maintenance vehicles. This auction helped reduce ongoing costs and generated revenue from depreciating assets.
If you believe the prices were too low, keep an eye on the next auctionâyour higher bid would benefit all taxpayers!
Source :
https://www.facebook.com/numbers.lk
