Motorcycles over 250cc likely to get pricier

The prices of motorcycles with high engine capacity may increase as the national budget for fiscal year 2024-25 has proposed increasing the import duty on many of their parts.

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What gets cheaper, what gets costlier

A 10 percent customs duty will be imposed on raw materials for the assembly of motorcycles with engine capacity exceeding 250 cubic capacity (cc), said Finance Minister Abul Hassan Mahmood Ali in his budget speech.

"At the same time, I recommend increasing the existing import duty from 5 percent to 15 percent against the related motorcycle engine parts in Bangladesh Customs Tariff," he said.

Motorcycle sales in Bangladesh hit a five-year low in 2023 due to global economic crises and inflationary pressures, according to industry people.