Govt to formulate light engineering policies | The Business Standard
Skip to main content
  • Home
  • Economy
    • Aviation
    • Bazaar
    • Budget
    • Industry
    • NBR
    • RMG
    • Corporates
  • Stocks
  • Analysis
  • World+Biz
  • Sports
  • Features
    • Book Review
    • Brands
    • Earth
    • Explorer
    • Fact Check
    • Family
    • Food
    • Game Reviews
    • Good Practices
    • Habitat
    • Humour
    • In Focus
    • Luxury
    • Mode
    • Panorama
    • Pursuit
    • Wealth
    • Wellbeing
    • Wheels
  • Epaper
    • GOVT. Ad
  • More
    • Subscribe
    • Videos
    • Thoughts
    • Splash
    • Bangladesh
    • Supplement
    • Infograph
    • Archive
    • COVID-19
    • Games
    • Long Read
    • Interviews
    • Offbeat
    • Podcast
    • Quiz
    • Tech
    • Trial By Trivia
    • Magazine
  • বাংলা
The Business Standard

Wednesday
June 07, 2023

Sign In
Subscribe
  • Home
  • Economy
    • Aviation
    • Bazaar
    • Budget
    • Industry
    • NBR
    • RMG
    • Corporates
  • Stocks
  • Analysis
  • World+Biz
  • Sports
  • Features
    • Book Review
    • Brands
    • Earth
    • Explorer
    • Fact Check
    • Family
    • Food
    • Game Reviews
    • Good Practices
    • Habitat
    • Humour
    • In Focus
    • Luxury
    • Mode
    • Panorama
    • Pursuit
    • Wealth
    • Wellbeing
    • Wheels
  • Epaper
    • GOVT. Ad
  • More
    • Subscribe
    • Videos
    • Thoughts
    • Splash
    • Bangladesh
    • Supplement
    • Infograph
    • Archive
    • COVID-19
    • Games
    • Long Read
    • Interviews
    • Offbeat
    • Podcast
    • Quiz
    • Tech
    • Trial By Trivia
    • Magazine
  • বাংলা
WEDNESDAY, JUNE 07, 2023
Govt to formulate light engineering policies

Industry

TBS Report
24 December, 2020, 06:35 pm
Last modified: 24 December, 2020, 06:39 pm

Related News

  • We've taken US' new visa policy in good spirit: Shahriar Alam
  • Three-fourth of workers in light engineering sector are at mismatch with education and field of work: BIDS study
  • Outdated policy a major barrier to insurance penetration 
  • Bangladesh can have bigger slice of UK’s $327bn light engineering market 
  • Bangladesh's economic growth has remained reasonable: Economist Kaushik Basu

Govt to formulate light engineering policies

Domestic industries occupy only Tk20 crore of the country’s Tk2,100 crore motorcycle market

TBS Report
24 December, 2020, 06:35 pm
Last modified: 24 December, 2020, 06:39 pm
Photo: TBS
Photo: TBS

The government will formulate policies for the country's light engineering sector and implement it with the support of stakeholders.

"There is no alternative to industrialisation in order to be a developed country by 2041. To attain the goal, the government wants to formulate and implement policies for various industries with the help of stakeholders," Industries Secretary KM Ali Azam said at a webinar on Wednesday.

Addressing a programme, entitled "Light Engineering Industry: Backward Linkage Development Perspectives of Motorcycle Industry", organised by the SME Foundation, he said this industry has been declared as the product of the year 2020 to emphasise the significance of light engineering.

He said the announcement and various government initiatives will play an effective role in the development of the country's industrial sector.

In the keynote paper, Bangladesh Industrial Technical Assistance Center (BITAC) Director Syed Ihsanul Karim said domestic industries occupy only Tk20 crore of the country's Tk2,100 crore motorcycle market.

The Ministry of Industries formulated the "Motorcycle Industry Development Policy" in 2018. Even so, most of the equipment for motorcycle manufacturing such as chassis, wheels, handlebars, brake systems, fuel tanks and plastic products yet need to be imported.

"If necessary initiatives are taken, it will be possible to dominate the entire market just within five to seven years," Ihsanul Karim said.

Meanwhile, Industries Secretary KM Ali Azam said the importance of light engineering is not light anymore in the current process of industrialisation.

"So policy support is very important for the emerging sector. A place in this sector has developed to be satisfied with, and we want to take it forward," he added.

As a special guest, National Board of Revenue member Syed Golam Kibria said motorcycle association leaders can discuss with the revenue board such issues as customs and import and the obstacles they face. The board is ready to provide all kinds of reasonable policy support to industries and trades.

BITAC Director General Anwar Hossain Chowdhury said the organisation has taken various initiatives to create skilled manpower in the motorcycle manufacturing industry. He hoped that this will increase the technical capacity of the sector.

The event was chaired by SME Foundation Chairperson Masudur Rahman, who noted that domestic industries currently supply only one-third of the country's demand for products worth Tk70,000crore in the light engineering sector.

He said the country's motorcycle market could more than double in the next five years. He called for utilising various potentials of this sector as a way of taking the process of industrialisation forward.

As pointed out at the webinar, currently motorcycle manufacturing is one of the largest emerging industries in the country. There are a total of 38 motorcycle manufacturing and assembling units in the country, including seven local and eight international manufacturing companies.

The annual production of the thriving industry is approximately 4.40 lakh units, which is 80% of total demand.

Md Abdur Razzak, President of Bangladesh Engineering Industry Owners Association, Hafizur Rahman Khan, President of Motorcycle Manufacturers and Exporters Association, and Selim Uddin, Additional Industries Secretary, were panellists at the webinar.

Shafiqul Islam, Managing Director of SME Foundation, delivered the welcome address.

Economy / Top News

Light Engineering / Policy

Comments

While most comments will be posted if they are on-topic and not abusive, moderation decisions are subjective. Published comments are readers’ own views and The Business Standard does not endorse any of the readers’ comments.

Top Stories

  • Digital bank licence requires Tk125cr capital
    Digital bank licence requires Tk125cr capital
  • New income tax law to be hard on evaders, simplifies rules for businesses
    New income tax law to be hard on evaders, simplifies rules for businesses
  • RMG export income rises, raw material imports fall in Q1
    RMG export income rises, raw material imports fall in Q1

MOST VIEWED

  • Representational image
    Chemical warehouses finally moving to Shyampur
  • Representational image. Photo: Collected
    How local industries react to FY24 budget
  • Exporters’ demands not reflected in the proposed budget
    Exporters’ demands not reflected in the proposed budget
  • REHAB President Alamgir Shamsul Alamin Kajal. TBS Sketch
    Proposed budget will push housing industry towards crisis: REHAB president
  • Khourshed Alam.Illustration: TBS
    'Persisting gas crisis to hurt many ceramic-makers'
  • Photo: BSS
    PM seeks larger Swedish investment in ICT, economic zones

Related News

  • We've taken US' new visa policy in good spirit: Shahriar Alam
  • Three-fourth of workers in light engineering sector are at mismatch with education and field of work: BIDS study
  • Outdated policy a major barrier to insurance penetration 
  • Bangladesh can have bigger slice of UK’s $327bn light engineering market 
  • Bangladesh's economic growth has remained reasonable: Economist Kaushik Basu

Features

TBS Illustration

From graphic eyes to glass skin: 5 viral beauty trends of 2023

10h | Mode
Photo: Courtesy

Stride: Embracing affordable, inclusive, and heritage-inspired fashion

13h | Mode
Seba Prokashoni after QaziDa

Seba Prokashoni after QaziDa

16h | Panorama
Illustration: TBS

How to retain brains in the country

15h | Panorama

More Videos from TBS

Imran fears re-arrest

Imran fears re-arrest

5h | TBS World
Zlatan Ibrahimovic retires from football

Zlatan Ibrahimovic retires from football

8h | TBS SPORTS
Controversial referee Lahoz departs after receiving a guard of honour

Controversial referee Lahoz departs after receiving a guard of honour

8h | TBS SPORTS
What will happen if Payra thermal power plant is closed?

What will happen if Payra thermal power plant is closed?

8h | TBS Stories

Most Read

1
bKash denied permission to pay $4.10 lakh for Argentina football partnership
Banking

bKash denied permission to pay $4.10 lakh for Argentina football partnership

2
Photo: Noor-A-Alam/TBS
Splash

The Night Dhaka did NOT vibe with Anuv Jain

3
Boeing offers Biman its latest 787-10 Dreamliner
Bangladesh

Boeing offers Biman its latest 787-10 Dreamliner

4
Country's first floating solar power plant connected to national grid
Energy

Country's first floating solar power plant connected to national grid

5
Photo: TBS
Environment

Green space in Dhaka North declines 66% in 3 decades: Study

6
Photo: TBS
Energy

2nd unit of Payra power plant to shut down over coal shortage

EMAIL US
[email protected]
FOLLOW US
WHATSAPP
+880 1847416158
The Business Standard
  • About Us
  • Contact us
  • Sitemap
  • Privacy Policy
  • Comment Policy
Copyright © 2023
The Business Standard All rights reserved
Technical Partner: RSI Lab

Contact Us

The Business Standard

Main Office -4/A, Eskaton Garden, Dhaka- 1000

Phone: +8801847 416158 - 59

Send Opinion articles to - [email protected]

For advertisement- [email protected]