Cabinet nods policy promoting local motorbike industry

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Bangla Tribune Report
Published : 17:35, Sep 10, 2018 | Updated : 18:35, Sep 10, 2018

The weekly Cabinet meeting was held at the Prime Minister`s Office on Monday.The government has approved the draft of ‘Motorcycle Industry Development Policy 2018’ incorporating a provision of allowing to manufacture of 250cc motorcycles for export.
“The National Board of Revenue’s tax policy will be followed on the export duty for these motorbikes with a separate tariff policy to be formulated soon,” Cabinet Secretary Mohammad Shafiul Alam said on Monday (Sept 10).
Speaking to media after a Cabinet meeting at the Prime Minister’s Office, Alam said, “The motorcycle manufacturing industry now contributes 0.5 percent to the GDP. The government has set a target to hike it to 2.5 percent by 2021.”
The industry employs nearly half a million people, which the government want to be at 1.5 million by 2027.
“The government has set a target to produce 500,000 units of motorcycle by 2021 and 1 million units by 2027” said Cabinet Secretary Alam.

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