Finance Minister AMA Muhith has said the restriction on importing hybrid automobiles will be withdrawn from next fiscal year while the local car importers will seize the opportunity to import that hybrid vehicles.
“We will issue a directive in this regard in the next fiscal year budget announcement,” Muhith said this yesterday at a per-budget meeting with the leaders of Bangladesh Reconditioned Vehicles Importers and Dealers Association (BRVIDA) at the Finance Ministry auditorium.
As regards the demand of BRVIDA leaders, the finance minister said: “I had hesitation whether to allow the import of hybrid reconditioned cars, but now we will give permission for such car import from the next fiscal year.”
The government allowed to import 2500cc hybrid new vehicle from 2009 with import tax waiver facility, but it did not allow the import of hybrid re-conditioned car.
The leaders claimed that middle-class families can use hybrid car, but the engines of hybrid vehicles cannot be repaired locally.
They also said NBR queries about the durability and availability of batteries of hybrid cars in the current budget document are confusing.
The hybrid cars are environmentally friendly and their battery lifetime is 10 years, added the leaders.
In Japan, a total of 40% car production is now made of hybrid technology.
The business leaders also sought clarification from the NBR regarding its query about the year of use of the imported reconditioned hybrid cars.
In this regard, the finance minister said NBR will review the query, but other things will remain the same.
Regard the next fiscal year budget outlay, the finance minister said: “Next fiscal year budget will be Tk3 trillion, but our biggest challenge will be to meet the target of revenue collection.”
