100% Cash Margin on Car Import LCs — Quiet Freeze or Just Prudent Policy?

Since mid-September, the Central Bank has quietly forced banks to collect a 100% cash margin before opening an LC for any vehicle import, meaning importers must park the full rupee value upfront, stacked on top of the 50% duty surcharge and the 40% financing cap buyers already face. CBSL says this curbs speculative demand and protects the currency; importers say it locks up working capital and will shrink stock just as demand was recovering. One side argues this is the only way to stop scarce dollars leaking out on cars the country cannot really afford; the other calls it a backdoor import ban dressed up as monetary policy, one that squeezes small dealers without deep cash reserves while big players keep importing fine. If you have tried opening an LC for a vehicle lately, or you are a dealer watching stock levels, what are you actually seeing — fewer containers, slower turnaround, or prices holding steady anyway? ඔබේ වෙළෙන්දා හෝ ආනයනකරු මේ 100% මාර්ජිනය ගැන මොකද කියන්නේ?