Ahammad Parvej Khan
In the present era of economic world, it is essential to maintain better business activities for making the backbone of a country stronger.
Today the business is open worldwide and keeping this in mind, IFAD Group is expanding its business for ensuring sustainable growth.
IFAD, that started doing business with Ashoke Leyland of India in 1985, has made substantial progress in its business. At the beginning, the company used to import few cars. Then it gradually started importing chassis. Now it builds bodies of various types of vehicles and imports the auxiliary parts.
Very recently, Ifad Auto Services Limited, with technical support of Ashok Leyland, launched the largest servicing centre in the country on company’s factory premises at Madanpur under Bandar thana in Narayanganj district for providing assistance to all sorts of commercial vehicles with technical assistance to 22 commercial vehicles at a time.
At the centre, there will be facilities like sales of vehicles and parts, servicing and availability of spare parts. Earlier, the group has set up a large-scale assembling plant at Dhamrai in Savar. Here we are making bus, truck, AC bus etc. It will be able to market those at reasonable prices.
IFAD also opened an outlet for spare parts and other services and a service centre in Cumilla to help customers purchase original spare parts of Ashok’s and gulf engine oil at fare prices.
IFAD Autos Limited will assemble 10,000 cars a year. The plant will assemble different types of vehicles of Indian famous automobile company, Ashok Leyland.
Iftekhar Ahmed Tipu, Chairman of IFAD Group said in an exclusive interview with The Bangladesh Post.
In a span of 30 years, Ashok Leyland exported over 40,000 vehicles to Bangladesh and maintained a wonderful business relationship with IFAD Group. Ashok Leyland has extended all-out cooperation to IFAD to set up this plant, a-state-of-the-art factory which will not only contribute to the economy of Bangladesh but also play significant role in creating employment opportunity here, IFAD chief said.
The plant will assemble 25 vehicles a day and 10,000 a year, making it the largest assembling plant in the country. The automobile assembling plant has been built on 30 acres of land at a cost of Tk 750 million. The plant will assemble 7000 trucks of various ranges as well as around 3000 buses each year. It will also build around 3,000 trucks and bus bodies from the same facilities each year, he said.
Bangladesh is an import-dependent country and 97 percent of products, except food grain, are import based.
Most of the people like to get city-oriented jobs or business or other professional activities. So, people need vehicles to move anywhere. We are producing and supplying both buses and trucks. Gradually the quality and standard of them are being improved.
IFAD is involved in transport sector for the last 32 years. We have been helping the government by supplying buses to the Bangladesh Road Transport Corporation (BRTC) since 1987. The buses we have given before 28 years are still running. The quality of Ashoke’s Car is much better. The main thing in a vehicle is its chassis. As much as the chassis is stronger, the vehicle will be long lasting and durable, Iftekhar Ahmed Tipu added.
At one stage, we went for importing tractors. It is not possible to run truck everywhere in the country for transportation of goods. So tractor machine is used widely in the rural parts of Bangladesh for carrying goods. We have been trying to provide more tractors at reasonable prices so that people can get them to meet their needs. You know CNG cars and autos are the vehicles of commoners. We always try to contribute in meeting the needs of general people.
IFAD Autos has so far supplied over 30,000 vehicles to thousands of organisations in the country with an established network of showrooms, dealers, zonal offices and authorised service stations providing nationwide coverage.
In 2016, IFAD Autos Ltd had taken up the sole representation of Escorts Agri Machinery and Escorts Construction equipment of India.
The Bangladesh Bank has recently declared IFAD Autos Ltd as one of the top ten largest and most creditworthy borrowers in the country. The company underwent IPO in January 2015 to make significant expansion in operations namely a-state-of-the-art full-scale assembling plant in technical collaboration with Ashoke Leyland, having a capacity to roll-out 4,000 vehicles annually, he added.