New budget to encourage motorcycle manufacturing

Publish: 8:57 PM, April 18, 2019 | Update: 8:57:PM, April 18, 2019

DHAKA,  – Motorcycle production in the country would be encouraged in the upcoming national budget, said National Board of Revenue (NBR) Chairman Md Mosharraf Hossain Bhuiyan here today.

Besides, the proposal of reducing the registration fee of motorcycle would be considered, he added.

The NBR chairman was speaking at pre-budget meeting with the representatives of Motorcycle Manufacturers’ and Exporters’ Association, Bangladesh Goods Transport Agency Owners Association, Bangladesh Inland Container Deports Association (BICDA) and Bangladesh Motor Parts and Tyre-Tube Businessmen Association at the NBR auditorium.

Mentioning that motorcycle industry started its journey in the country 10-12 years ago, Mosharraf Hossain Bhuiyan said: “We have brought massive changes to this sector and now motorcycle is being produced locally.”

He revealed the government would also encourage car manufacturing alongside motorcycles. “We are framing a policy for car manufacturing to provide support like the motorcycle, and anyone could avail of this opportunity by getting engaged in car manufacturing.”

The NBR Chairman hoped car manufacturing would begin in the country soon following the path of motorcycle, mobile phone and refrigerator.

Responding to the Ship Owners Association, he said Bangladesh has advanced much in ship building with the stimulation of the government. “But, a few address-less firms are engaged in this sector and those are selling ships depriving the government of revenues. They would be brought under the law,” he added.

BICDA placed a proposal to cut company tax rate to 25 percent from 35 percent for the private container port or private inland deports along with fixing the source tax at 2 percent.