BARVIDA hails budget, calls for declaring microbuses as public transport

Bangladesh Reconditioned Vehicles Importers and Dealers Association (BARVIDA) has hailed the proposed national budget for the 2021-22 fiscal year for reducing the tariff on imports of microbus, hybrid cars and jeep from 1801CC to 2500CC.

“Such a tax facility will bring dynamism in the sector, protect local industries and help revive the rural economy,” the business body said in its budget reaction.

BARVIDA Secretary-General Mohammad Shahidul Islam came up with remarks at a press conference on the proposed budget at its office in the capital on Wednesday.

Shahidul also demanded 45 percent devaluation facilities on import of reconditioned cars and withdrawal of supplementary duty on widely used microbus.

He also urged the finance minister for considering the proposals to declare the microbuses as public transports, discouraging the use of unsafe transports like Nosimon and Leguna.

“We consider the proposed budget as entrepreneurs, industry and business-friendly as it is very positive in strengthening the necessary measures for ensuring public health and vaccination to the people to face the challenges of the Covid-19 pandemic,” BARVIDA President Abdul Haque said.

He added that the proposal of VAT exemption at the production level and reduction of advanced income tax (AIT) at import stage, and the stimulus package for the agricultural sector are praiseworthy.

The proposal of increasing tax-free turnover of small and medium scale women enterprises to Tk 70 lakh is, of course, a great initiative, he noted.