Cars to be costlier

Finance Minister AHM Mustafa Kamal has proposed to increase supplementary duty on motor vehicles in the budget for FY2022-23.

The supplementary duty on the import of 2001cc to 3000cc cars has been increased to 250% from 200% and cars with 3001cc to 4000cc hiked to 500% from 350%.

Supplementary duty on hybrid vehicles has also been increased in the proposed budget.

The finance minister has placed Tk6,78,064 crore national budget for FY23 at Jatiya Sangsad according top priority to safeguarding marginal people from inflation fuelled by the Russia-Ukraine conflict.

This is the fourth budget of the third consecutive term of the government led by Prime Minister Sheikh Hasina and also the overall 51st budget of the country.

The proposed budget is Tk74,383 crore higher than the original budget size of the FY2021-22 fiscal year, which was Tk6,03,681 crore.