The country imported more than 200 vehicles in September month alone after lifting the vehicle import moratorium in August this year. Of these, 130 were passenger cars including electric vehicles. According to the finance ministry, this is a significant rebound.
From January to August this year,during the vehicle moratorium, more than 730 vehicles were imported, averaging 92 vehicles permonth.
Of these, more than 500 were buses, utility vehicles, special-purpose vehicles and trucks, which were exempted from the moratorium.
The remaining were passenger vehicles, including electric vehicles where the numbers remained relatively low.
The Finance Ministry said this increase in passenger vehicle imports following the lifting of moratorium suggests a rising consumer confidence and renewed enthusiasm in the market, signalling a promising recovery and growth potential.
However, the ministry added monitoring trends in the subsequent months will be crucial.
Earlier, when the vehicle moratorium was lifted, the government announced the plans to increase registration fees, with potentially higher fees for vehicle registered in Thimphu Thromde.
Vehicles from other districts travelling to Thimphu were also subjected to toll fees beyond a certain point.
The finance ministry said it is awaiting response to these changes from the Cabinet secretariat.
Meanwhile, the Bhutan Construction and Transport Authority who is leading policy changes regarding the registration fees told BBS that it is expected to get ready by the end of December.
Despite the increase in vehicle import in September month, the country’s foreign currency reserve for September this year is reported to have increased to around USD 606 M, up from a little over USD 547 M in August.
Samten Dolkar
