Finance Minister Davendranath Tancoo is seeking to reassure motorists and vehicle dealers that the importation of mild hybrid vehicles will not attract any additional costs under existing arrangements, dismissing claims that Government has imposed new taxes on vehicle imports.

Speaking to reporters during the opening of Pennywise Plaza Trincity on Friday, Minister Tancoo moved to address concerns over possible increases in vehicle import costs, stressing that no additional charges will apply to vehicles already purchased, currently in transit, or awaiting clearance at local ports.

He stressed that the issue is rooted in international compliance requirements and not domestic tax increases.