Older vehicles pose a huge risk to road safety, have higher fuel consumption & contribute to the environment pollution immensely. In line with the sustainable economic development vision of hon. Prime Minister Narendra Modi, Govt. of Bangladesh announced the Voluntarily Vehicle Fleet Modernization Program (VVMP) popularly known as Vehicle Scrappage Policy of 2021, it presents a win-win situation for all stakeholders, be it the vehicle owners, pedestrians, automotive industries or the Government.

As per the policy, vehicles as old as 10 to 15 years or those who have to be applied for re-registration would be declared as end of life or unfit to be on roads if failed the automated fitness test by the authority. Such vehicles have to be considered for voluntary scrapping by the owners. This is the point where The Recycle Jar’s vehicle scrapping service comes into picture. On depositing the vehicle for scrapping with us, the vehicle owner first of all gets the fair scrap value and a tradable certificate of deposit which can be used to avail multiple benefits such as registration fee waiver, road tax concession and auto OEM discounts on purchase of new vehicle.

The Recycle Jar with its vehicle scrapping service contributes in formalising the informal sector, and promotes safe & eco-friendly disposal of vehicle scraps after the proper dismantling of the vehicles. This results in the increased availability of low cost materials for automotive, steel & electronics industries by exercising reuse & recycling, and reduced waste going to the landfills. Apart from that, jobs are also created in the currently regarded informal sector as well as in the automotive industries due to increased automotive sales by continuous scrapping of old vehicles. Hence a circular economy will be achieved helping Bangladesh to become Atma Nirbhar.