Market Digest

Cabinet okays policy to develop local automobile industry

15 June, 2021 12:00 AM printer

The Cabinet on Monday approved draft of Automobile Industry Development Policy-2021 aiming to develop local automobile industry.

The approval came from the weekly Cabinet meeting held at the Cabinet Room of the Jatiya Sangsad with Prime Minister Sheikh Hasina in the chair, reports BSS.

“We need to develop the automobile industry for our own interest amid the growing demand…We’re thinking for the development of the automobile industry to some extent,” said Cabinet Secretary Khandker Anwarul Islam while briefing reporters at the Secretariat about the outcome of the meeting.

Actually, the government doesn’t want to allow the country to keep its dependency on import, he said.

Anwarul said there is a potential for the development of the automobile industry in the country. The main objective of the policy is to develop the local industry by ensuring competency in automobile engineering and necessary facilities for production of automobiles and parts, he said.  The Cabinet Secretary said another objective of the policy is to enhance scopes for cooperation and joint-investment between local automobile industries with international automobile brands so that the products of famous brands and models can be produced here at cheaper costs.

He said the Japanese Ambassador in Dhaka has already offered that a famous Japanese company wants to produce their products in Bangladesh.

The policy has been designed in both Bengali and English versions.

Besides, the Cabinet gave the final approval to the draft of the Delimitation of Constituencies Bill, 2021 in a bid to formulate an act, repealing an ordinance promulgated during the military regime in line with the court’s judgment.

“The proposed law has been designed aiming to make an act instead of the existing Delimitation of Constituencies Ordinance 1976,” said the Cabinet Secretary.

No major change was brought to the draft law, he added.

The Cabinet also cleared a proposal for accepting the membership of OIC’s Women Development Organisation (WDO) as well as ratification and signing of the WDO Statute to this end.

The meeting was informed about this year’s February 05-10 visit of the Information and Broadcasting Minister Dr Hasan Mahmud in India.

 


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