The proposal suggests raising the duty on imports of motorcycles with engine capacities exceeding 250 cc from 5% to 15%, leading to a hike in the prices of these national motorcycles.
On Thursday (June 6), Finance Minister Abul Hassan Mahmood Ali presented the largest budget in the country`s history at the National Parliament, with a budget of Tk 7,97,000 crore for the fiscal year 2024-25. The proposed budget was approved by the cabinet earlier and later signed by President M. Sahabuddin.
"We propose to impose a 10% duty on imports of motorcycle parts for engines above 250 cc and increase the existing import duty from 5% to 15% on goods opposite to those in the Bangladesh Customs Tariff," said the Finance Minister.
This budget marks the 53rd for independent Bangladesh and the 21st under the leadership of Prime Minister Sheikh Hasina`s government.
The size of the previous fiscal year`s budget (2023-24) was Tk 7,61,000 crore.
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