Dhaka: The government will formulate an automobile policy by July next to help ensure a strong and sustainable automobile sector in the country, said Industries Minister Dilip Barua. He said the government would provide required policy support to local entrepreneurs to manufacture vehicles of international standard. The Industries Minister came up with the disclosure while inaugurating a motorbike manufacturing plant of Runner Automobiles Limited, a local automobile company, at Bhaluka upazila in Mymensingh on Saturday, said a press release on Sunday. Prof Dr M Amanullah, MP, Khaled Mahmud Chowdhury, MP, Runner Automobiles vice chairman Mojammel Hossain and managing director Brig Gen (retd) Shafiquzzaman also spoke at the function held with company chairman Hafizur Rahman Khan in the chair. Speaking as the chief guest, Barua said Bangladesh can export motorcycles after meeting domestic demand if international standard bikes can be produced by utilising local resources and technologies. "It'll help cut import cost and save foreign currency." He said the demand for vehicles, especially motorcycles, is on the rise in counties like Bangladesh due to their growing population. The company invested over Tk 200 crore to set up the plant in Mymensingh and it is producing some 500 motorcycles a day. The company officials said motorbike price would come down significantly as the plant has gone into operation. They said the plant would generate employment opportunities for 2,000 people in the next three years. UNB