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24 February, 2018 12:48:43 AM / LAST MODIFIED: 24 February, 2018 11:18:28 AM

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Vehicle prices go up over high demand

DEEPAK ACHARJEE
Vehicle prices go up over high demand

Prices of reconditioned vehicles have risen following increased demand by senior government officials, who were provided with car loans recently. The finance ministry has disbursed car loans of Tk 30 lakh each among 527 senior government officials (Deputy Secretary, Joint Secretary and Additional Secretary) during the last one year, sources in the Finance Division and the public administration ministry said.

The public administration ministry has also promoted a number of officials from the ranks of Senior Assistant Secretary, Deputy Secretary and Joint Secretary, the sources added.

According to the government rules, government officials in the rank of deputy secretary and above will get car loans of Tk 30 lakh (interest free) and Tk 50,000 per month as car maintenance cost each.

After receiving the car loan, a number of officials were seen moving from one showroom to another to choose a better reconditioned car, especially of the brand of Toyota (Premio) and Nissan (X-Trail) of model 2015 and 2016 for their personal use.

But most of them were not getting cars of their choice within Tk 30 lakh as the vehicle dealers raised prices after learning that car loans had been disbursed among a good number of government officials recently.

General Secretary of the Bangladesh Reconditioned Vehicles Importers and Dealers Association (BARVIDA), Mohammad Habibur Rahman, told The Independent that vehicle prices have risen due to disbursement of car loans among a number of government officials at the same time and deviation between Japanese yen and US dollar recently.

“Car imports have also increased. We imported 3,500 vehicles in January because of the high demand. Earlier, we used to import on average 2,000 to 2,500 vehicles each month," he said.

Rahman also said the price of a small car has risen by Tk 70,000 and that of others by Tk 140,000. “At present, a Toyota brand Premio car (model 2016) is selling for Tk 34 lakh, it was Tk 32.50 lakh earlier. A Nissan brand X-Trail Jeep is selling for Tk 42 lakh, up from Tk 40-41 lakh,” he added.

Rahman, also owner of Four Wheelers, said prices of vehicles would go up further from next month.

BARVIDA president Habib Ullah Dawn told this correspondent that car prices have risen by at least 15 per cent. Dawn, also chairman of the AM Group, said import of reconditioned cars has risen gradually with the increase in demand.

Sources in the public administration ministry said the ministry has provided about Tk 400 crore as car loans to at least 1,600 senior government officials from 2011 till date. Of the 1,600 officials, 527 have been provided car loans in the last one year, the sources said. The government started providing car loans to officials from joint secretary level to above from 2011. The amount was Tk 16 lakh each. The loan amount was raised to Tk 20 lakh in 2013, to Tk 25 lakh in 2014 and to Tk 30 lakh in 2017, the sources said.
The public administration ministry is providing car facilities to ministers, state ministers, deputy ministers, Deputy Commissioners (DCs), Upazila Nirbahi Officers (UNOs), chairmen of District Councils and other high ranking government officials.
A total of 307 officials of the rank of secretary, additional secretary and joint secretaries use various types of cars from the transport pool.

IK

 

 

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Editor : M. Shamsur Rahman

Published by the Editor on behalf of Independent Publications Limited at Media Printers, 446/H, Tejgaon I/A, Dhaka-1215.
Editorial, News & Commercial Offices : Beximco Media Complex, 149-150 Tejgaon I/A, Dhaka-1208, Bangladesh. GPO Box No. 934, Dhaka-1000.

Editor : M. Shamsur Rahman
Published by the Editor on behalf of Independent Publications Limited at Media Printers, 446/H, Tejgaon I/A, Dhaka-1215.
Editorial, News & Commercial Offices : Beximco Media Complex, 149-150 Tejgaon I/A, Dhaka-1208, Bangladesh. GPO Box No. 934, Dhaka-1000.

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