Import of the recycled base oil in Bangladesh is being prohibited to increase the lifetime of vehicle parts and the machinery in industrial plants. Recently, the Ministry of Commerce has reached this final conclusion to this principle.
For this, new amendments have been issued in the relevant section of the current amendment order 2015-2018. And the import of recycled base oil will be banned by this new import order (2018-2021).
Earlier, the Ministry of Energy and Mineral Resources proposed to ban the import of recycled base oil under the act of ‘Lube Blending Plant-2018’. After the final decision was made, it was requested to include it in the import order.
Also, the Ministry of Commerce called a meeting of the concerned stakeholders in this August. At the meeting, the National Board of Revenue (NBR), representatives of the FBCCI, and the Lube Blenders Association agreed to ban the import of recycled base oil.
We know that the virgin base oil is used as raw material for the production of different lube oil. It is a kind of slippery and fluid substance – which makes use of any moving parts to increase the power of the machine, due to excessive friction.
Lubricants oil also help to keep the valuable machinery of the car engines and factories.
But, due to lower prices of ground oils, compared to virgin base oil, importers are encouraged to import it at the private level.
The use of recycled base oil decreases the lifetime of the engines and mechanical equipment. Now the least quality lubricants have been swayed by the market.