Lubricant players concerned over duty hike on synthetic lubricants

Mar 22, 2017 (LBO) – Sri Lanka’s lubricant suppliers are starting to pass the tax imposed on synthetic lubricants to end users, the Ceylon Motor Traders Association warned. The association said the recent 31 percent rise in duty and tax imposed by the government on synthetic lubricants effective mid-November is causing alarm in the market, a statement said.
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“This duty and tax hike will only result in discouraging the vehicle owners from using synthetic lubricants due to the high price.” “This is not a welcome development for the country as synthetic lubricants help vehicles to perform better, when compared with conventional oils.” The association says local franchise car agencies too are affected through this tax hike and the move by the government will severely impact the vehicle owners. Synthetic lubricants are proven to be more environmentally friendly, as emission levels are comparatively lower, draining intervals are higher and resultantly more mileage could be achieved, the association said.