Bangladesh is going ahead with a plan to manufacture at least 50 per cent of the railway parts in the country to save a chunk of foreign currency and create jobs. A draft policy prepared with this objective is likely to be finalized this month, sources at state-run Bangladesh Railway told UNB this week. Apart from saving the railway TK 75 to 150 crore annually the implementation of the plan will greatly reduce its dependence on imported parts. The sources, who spoke on condition of anonymity, said currently about 25,000 different types of parts are required for locomotives . Of specialized parts, only 5 per cent are locally made now. The remaining 95 per cent of the parts are purchased from foreign manufacturers. An official of Bangladesh railway told UNB that around 61 per cent of its 283 locomotives, have reached prescribed 20-year lifespan. Engine parts worth around Tk 150-200 crore are imported every year to keep those expired engines running.  In this context railway has taken initiative to manufacture various parts in the country. Read: New-look Upukul Express flagged off by Railways Minster Since most of the engine parts have to be imported, in most of the cases it is not possible to repair the engine properly due to non-availability of spare parts within the stipulated time, explained the official. If these are made in the country, it will save time besides saving foreign currency. This, in turn, will create employments, the official said requesting anonymity. The draft policy includes entrepreneurs in the production process. Bangladesh Railway's own workshops will be used for manufacturing work. Once the policy is implemented, the parts will be available easily and cheaply and it will also contribute to the development of the local industry, he said. Other sources at the Bangladesh Railway said, the proposed policy aims at the production and rapid availability of locomotive parts in the country. It says that a large number of spare parts are required regularly to repair and maintain the engine in the fleet. These parts are specialized materials. Diesel engine parts are identified on the basis of part number and description as there are no drawings and specifications.