It is a very common experience in our country that consumers could never enjoy the full benefit of any initiative taken to reduce price level of a commodity. Recently, the experience about some kitchen market items as well as luxury goods has been the same. The imported reconditioned cars the prices of which were supposed to go down by Tk 50,000 to Tk 70,000, are being sold at prices higher than that just before the announcement of the budget of this year.
This time, the excuse of the car importers are also like those other traders who have so far practiced the same unwanted cult of hiking prices. The car importers claim that prices of reconditioned cars have increased in the Japanese market. They said the government's system of paying import duties is also responsible for the increase of car prices. The importers have also to count additional money for payment in yen and dollar due to exchange rate fluctuation in different stages of car import. They also bring in the point that the tax reduction facility that has been promised in the budget is not effective as all the cars now at showrooms, were imported prior to the budget announcement.
So in the long run, there is nothing new in our experience with car prices this time. The budgetary provision of reduced import duty has not brought any benefit to the consumers. When a consumer decides to buy a reconditioned car he has to make much effort to manage the budget. But this kind of situation in the market, obviously, frustrates him.