Minister for Road, Transport and Highways Nitin Gadkari on Wednesday said that his ministry has prepared a draft of vehicle scrapping policy for commercial vehicles and hoped that pending proposals wth the Finance Ministry will be cleared soon.
"We have already prepared the draft, but some of the problems are related with different stakeholders. We need cooperation from the manufacturers, and, at the same, time clearance from the Finance Ministry," he said at an event here.
The proposed policy aims to ban 20-year-old commercial vehicles with effect from April 1, 2020. The policy will allow the buyers to scrap their old vehicles and get a scrapping certificate after which they would not have to pay the registration fee for their new vehicle.
"We are in the process. My ministry is trying its level best to clear it as early as possible. I am confident that we will bring the scrapping policy in a short period," he said.
He also urged the stakeholders in the automobile industry to give their suggestions regarding various policies related to the sector.
(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)