The country’s aviation industry will get a boost as the government’s latest import policy has paved the passage for import of civil aircrafts, helicopters and their spare parts. Aviation experts as well as industry insiders said, the new import policy that has simplified the procedure for import of aircrafts and spare parts by the private entrepreneurs would greatly contribute to the growth of the much-potential industry and promote tourism industry.
A number of private airlines as well as aviation companies are operating air services in the country since a long. The present policy guideline on import of civil aircrafts as well as helicopters as well as their spare parts would encourage more entrepreneurs operate air services. Besides tourism, private airlines operators can contribute in promoting trade and commerce in the country, they opined. Helicopter service by private companies can play significant role in health services by swift transportation of patients at critical stages, they added.
Recently the government has approved ‘Import Policy 2018-2021’ where such facilities have been included for the country’s business people. The Cabinet Committee on Economic Affairs approved the import policy for three years. A reliable source said, in the previous import policy 2015-18, there was no option to import civil aircraft or helicopter, but in the new policy these option has been included.
In the new policy, it is state that with prior permission of the Civil Aviation Authority, subject to compliance of concerned air navigation order, circular and others, any type of aircrafts (airplane/ helicopter) and its engine or spare parts (new or reconditioned) or both can be imported, based on HS Code. In the new import policy, registration fee and renewal fee of the importer, exporter and inventors were reduced in order to ease business and trade. To extend export business, the government has increased sample import quantity as well as extended time limit to 24 months from 17 months.
Besides, to facilitate medicine business, importers are allowed import samples and advertisements worth of $10,000 which was Tk 3 lakh before. Foreign manufactures in Bangladesh will be able to import $5000 or equivalent goods which was Tk 1.5 lakh before. On the other hand, in terms of readymade garments sector, for each category, 15 to 1500 samples can be imported.
On the other hand, non-registered importers’ limit was increased to $10,000 from $ 7000. Apart from this, import limit of old cloths was reduced to 3000 from 5000 and import target has also been reduced. The new import policy was formulated aiming at making raw materials available for industries and increase supply of goods and make strong platform for the country’s export industries.