Xinhua. The Bangladeshi government is considering allowing the tax-free import of Compressed Natural Gas (CNG)-driven engines and vehicles to accelerate conversion and usage.
Sources from the Energy Ministry said tax-free import of the CNG-driven engines and vehicles if allowed will save huge foreign currency, for it will alleviate the country’s dependence on imported petroleum with soaring prices.
The government imports diesel currently worth some $450 million annually, and then spends an additional $1.18 billion to subsidize the end urchase. Bangladesh imports diesel at a cost of 28 taka (about $0.46 but sells the same at 23 taka ($0.38 dollar).
Black marketers smuggle large amounts of diesel from Balgadesh into Indian as the market price of diesel is higher there at 34 taka ($0.56 dollar) per liter.