The approval was given at the weekly Cabinet meeting held at the Secretariat with Prime Minister Sheikh Hasina in the chair.
Cabinet Secretary Mohammad Shafiul Alam briefed reporters after the meeting.
In the policy, Shafiul Alam said, a target was set to produce five lakh motorcycles by 2021 and 10 lakh by 2027.
At present, there is an opportunity of employment of five lakh people in the motorcycle industry but it will go up to 15 lakh in 2027 as per the new policy, he said.
Now the contribution of the motorcycle industry to the Gross Domestic Product (GDP) is only 0.5 percent and a target was set in the policy to increase the contribution to 2.5 percent by 2025, the Cabinet Secretary said.
Besides, the draft of Bangladesh Shishu Academy Bill-2018 got the cabinet’s final nod, he added.
The Cabinet Secretary said the Shishu Academy Bill was approved bringing a few changes to the existing law.
The bill is the updated version of the existing Bangladesh Shishu Academy Ordinance 1976 which was promulgated during the military regime. “In the bill, the post of director of Bangladesh Shishu Academy has been upgraded to Director General,” he said.
Shafiul Alam said the governance and administration of this academy will be entrusted with a 19-member management board headed by a chairman.
The chairman can be appointed from famous litterateurs and academicians who won Swadhinata Padak or Ekushey Padak, he said.
The draft of Bangladesh Engineering Research Council Bill-2018 was placed before the Cabinet for its approval in principal but it formed a four-member committee, headed by Local Government, Rural Development and Cooperatives (LGRD) Minister Khandker Mosharraf Hossain, to examine the draft bill further.
Three other members of the committee are Housing and Public Works Minister Engr Mosharraf Hossain, Information Minister Hasanul Haq Inu and Science and Technology Minister Yafes Osman.
At the beginning of the cabinet meeting, a condolence motion was adopted over the death of noted writer and war heroine Roma Chowdhury, well known as ‘Ekatturer Janani’.
Roma Chowdhury who was brutally tortured by the Pakistani occupational army at her village in Chattogram during the 1971 Liberation War, died on September 10 last.