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Rule on reconditioned vehicle import relaxed

FE Report | Friday, 1 August 2008


The government has relaxed the rule of import of reconditioned vehicles by increasing the time and withdrawing the restriction on car capacity.

The commerce ministry has increased the time limit of reconditioned cars to six years from the four years earlier allowed.

It has also withdrawn the restriction of importing up to 1649 cc cars.

From now on, reconditioned vehicle importers will be able to import cars above 1649 cc.

The decision will come into effect by this week. A statutory regulatory order (SRO) in this connection is now in the law ministry for its vetting.

Talking to the FE Thursday, Commerce Secretary Firoz Ahmed said: 'The government has relaxed the rule to make reconditioned cars affordable and reduce environmental pollution.'

Reconditioned vehicle importers have long been demanding relaxation of the import policy.

Bangladesh Road Transport Authority (BRTA) also agreed on the demand, he said.

Bangladesh Reconditioned Vehicle Importers and Dealers Association (BARVIDA) has hailed the government decision saying that this move will help make reconditioned vehicles available to the buyers at affordable prices.

Its Secretary General Abdul Hamid Sarif said: 'Reconditioned cars of 2002-03 models will be available in the country at reasonable prices, which will help save foreign exchange and increase import of cars.'

He also said quality cars will enter the country as the government has withdrawn the CC limit from this year.

Officials said the National Board of Revenue would have to address tax issues in line with the change in the import policy.