Reconditioned car importers on Wednesday urged the government to halt auction of imported cars at Mongla seaport till December to help protect the sector hit hard by coronavirus pandemic.
According to the Bangladesh Reconditioned Vehicles Importers and Dealers Association (BARVIDA), the government's decision to start auction later this month would exacerbate their situation.
Auction this time would make the market instable as well as banks' investment uncertain, the BARVIDA apprehended.
It made the demand in response to a letter issued by the Mongla Customs House the same day on the auction for the imported vehicles stuck at the port.
"Such auction would culminate into financial losses for bona-fide investors, hamper revenue collection, destabilise car market and create risk for bank investment," the trade body said.
The automobile trading sector has been going through hard times for more than one year due to the pandemic, according to a BARVIDA statement.
"Reconditioned car traders have been facing huge losses due to the virus-induced public holidays and lockdown for several months," it stated.
Even BARVIDA members did not get any stake from the government's incentives with intent to recover the economy, whereas they continued providing revenue to the state exchequer through their activities.
According to the BARVIDA statement, the traders have sold several thousand cars in the last one year.
Acknowledging various state initiatives to protect the businesses, the BARVIDA requested the government to postpone its decision to start holding auction until December considering this trying time.
