BRTA's revenue collection almost doubles in 5 years

Mahmuda Shaolin | Published: August 03, 2008 00:00:00 | Updated: February 01, 2018 00:00:00

Revenue collection by Bangladesh Road Transport Authority (BRTA) almost doubled over the last five years as the overall collection jumped by 99.96 per cent to Tk 4.89 billion in fiscal 2007-08 from Tk 2.44 billion in 2003-04.

According to the BRTA, the BRTA has been able to surpass its collection targets for motor vehicle tax and fees every year from 2003-04 to 2007-08.

In 2003-04, BRTA collected Tk 2.44 billion against its target of Tk 2.40 billion. It collected Tk 2.51 billion against its target of Tk 2.61 billion in 2004-05, Tk 3.35 billion against its target of Tk 3.26 billion in 2005-6, Tk 4.01 billion against its target of Tk 3.82 billion in 2006-07 and Tk 4.89 billion against its target of Tk 4.41 billion in 2007-08.

"BRTA's revenue collection has increased significantly as we have taken some steps to boost the collection. Officials-employees involved in tax collection have been brought under close monitoring," said a BRTA official.

Besides, the number of motor vehicles has increased over the years mainly because of availability of car loan from private banks. Over 121,272 new motor vehicles were registered across the country in 2007 against 59,248 in 2003.

Of them the number of cars was 11941 in calendar 2007 compared with 7045 in 2003, BRTA officials said.

In Dhaka city, some 10,244 motor cars were registered in 2007 against 6163 in 2003.

Demand for reconditioned vehicles increased by 20 per cent in fiscal 2007-06 despite sluggish trend in economic activities and business.

Around 20,000 units of reconditioned cars were imported in 2007-08, which was 15,932 in 2006-07, 13,480 in 2005-06, 12,520 in 2004-05.

Importers said the import of 1500 cc cars increased by about 62 per cent in 2007-08. Import of such cars rose because they could easily be run by cheaper compressed natural gas (CNG) instead of costly petrol.

Importers said middle-income group has been purchasing reconditioned vehicles due to availability of bank loans.

Around 30 private banks and 10 leasing companies have been providing car loans at easy installment.

"Owning a car is no more luxury; it is now a necessity for the people," an importer said.