Allow import of cars older than five years: BARVIDA

Used car dealers have urged the government to allow import of vehicles older than 5.0 years to boost collection of state revenue and the market growth as well.

"If the current import policy is revised to permit import of cars older than five years, businesses will be able to bring in vehicles at significantly lower prices", said Abdul Haque, president of Bangladesh Reconditioned Vehicles Importers and Dealers Association (BARVIDA), at a press conference at its office in the capital on Thursday.

BARVIDA leaders also said that increasing the allowable import age from 5 to 10 years could save up to 50 per cent in foreign exchange, depending on the vehicle's age.

With the rise in purchasing capacity of the emerging middle-class, demand for having personal vehicles has surged in the major cities and district towns, they observed.

Additionally, industries require quality commercial vehicles like pickup trucks and delivery vans, they stated.

BARVIDA Secretary General Reaz Rahman, Vice Presidents Saiful Islam (Samrat) and Farid Ahmmed and Joint Secretary General Syed Juglul Hossain were present at the event.

The BARVIDA president also said that currently around 75 per cent of the country's imported reconditioned vehicles are sourced from Japan, which is globally recognised for producing high-quality and reliable automobiles.

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