Country's recondition vehicles importers and traders on Wednesday demanded 45 pc depreciation facility on import of reconditioned cars also to withdraw the existing supplementary duty on import of widely used microbuses.
Bangladesh Reconditioned Vehicles Importers and Dealers Association (BARVIDA), the apex body in the vehicle trading sector, welcomed the proposed budget for the fiscal 2021-22 for proposing assistances, referring that it will bring dynamism, protect local industries and economy and stimulate the rural economy of the country.
The BARVIDA also hailed the move for restructuring and reducing the tariff on import of microbus, hybrid cars and jeep. Secretary General of BARVIDA Mohammad Shahidul Islam said these at a press conference on the proposed budget at the association office in Dhaka.
BARVIDA President Abdul Haque delivered welcome speech at the press conference. The members of the executive committee and general members of the association were also present.
Leaders demanded the Government for granting their previous demand of 45 percent depreciation facility on import of reconditioned cars and year wise depreciation facility as the Finance Minister did not propose those in his budget speech for the fiscal 2021-22.
BARVIDA thinks the proposed budget is entrepreneurs, industry and business friendly because it is very positive in strengthening the necessary measures for ensuring the health safety services and vaccination to the people and to face the challenges of the Covid-19 pandemic.
"The government has proposed very necessary and very important steps in widening of the areas and increasing the allocation of the social safety net to cover more poor people and the new poor those who have gone below the poverty line from the severe fallouts of the Covid-19. It is expected that the private sector investment will increase due to proposed reduction of tax for protection of the local industries", Shahidul Islam said.
He said the proposal of exemption of VAT at production level, and reduction of Advanced Income Tax at import stage along with the stimulus for the agricultural sector is praiseworthy.
The proposal of increasing the turnover of the small and medium scale women enterprises to Tk70lakh is of course a praiseworthy initiative.
BARVIDA thinks last year Bangladesh’s achievement of the Asia’s highest economic growth at 5.2 percent is a matter of relief and proud for the country and it was possible because of wise guidelines by our Prime Minister in facing the challenges of the Covid-19 and for the government’s smart fiscal management.
However, BARVIDA also thinks it is very important to take innovative steps in socio-economic managements by addressing the issues like investment, production, employments and collection of expected revenue while implementing the proposed budget by facing the challenges of the Covid-19.
The association leaders at the press conference also said it is important to expand the car markets in the country to implement the Government’s vision of economic growth and at the time when Bangladesh is graduating to a developing country from a Least Developed Country (LDC).
Vice Presidents of BARVIDA Md. Saiful Islam (Samrat) & Md. Jashim Uddin Mintu, Joint Secretary General Mohammad Mokhlesur Rahman,Treasurer Mohammed Anisur Rahman, Publication and Publicity Secretary Farid Ahmed and Executive Committee Members Abu Hossain Bhuiyan (Ranu), Md. Ziaul Islam, Md. Yunus and Ali Dr. Md. Anisur Rahman Khan were also present on the occasion.
