The Cabinet secretary says a target has been set in the policy to produce 500,000 motorcycles by 2021 and one million by 2027.
The Cabinet on Monday approved the draft of the “Motorcycle Industry Development Policy 2018” aiming at expanding the local motorcycle industry and to reduce import dependency.
The approval was given at the Cabinet’s weekly meeting held at the Prime Minister's Office, with Prime Minister Sheikh Hasina in the chair, reports UNB.
Briefing the reporters after the meeting, Cabinet Secretary Mohammad Shafiul Alam said that a target was set in the policy to produce 500,000 motorcycles by 2021 and one million by 2027.
At present, there is an opportunity of employment of 500,000 people in motorcycle industry, but the number will increase to 1.5 million by 2027 in the new policy, he said.
Meanwhile, the draft of Bangladesh Engineering Research Council Bill 2018 was also placed before the Cabinet for its approval in principal on Monday.
But the Cabinet formed a four-member committee, headed by Local Government, Rural Development and Cooperatives Minister Khandker Mosharraf Hossain, to examine the draft further.
Three other members of the committee are Housing and Public Works Minister Mosharraf Hossain, Information Minister Hasanul Haq Inu and Science and Technology Minister Yafes Osman.
The Cabinet on Monday also cleared the draft of Bangladesh Shishu Academy Bill 2018, Shaiful added.
The bill aims to ensure profitable agriculture, nutrition and food security in Bangladesh.