Even though the affluent middle-class in Bangladesh is growing rapidly and increasing its purchasing power, the demand for passenger cars are still low compared to India and Thailand.
Govt scraps plan to phase out reconditioned cars
The government previously intended to phase out reconditioned car imports in a bid to encourage investments in local assembly and manufacture of motor vehicles. Photo: Star/file
The government has withdrawn its plans to phase out reconditioned car imports over the next five years considering the growing demand for private transport, according to the draft Automobile Industry Development Policy 2021.
The government previously intended to phase out reconditioned car imports in a bid to encourage investments in the local assembly and manufacture of motor vehicles.
But it seems the authorities have since backtracked on this decision as there were no such provisions in the draft policy approved by the cabinet on Monday.