Buying a bicycle has also become a dream for the poor as the prices of bicycles have increased by 100 per cent during the last 15 months.
According to the details, after the increase in the prices of motorcycles, the prices of bicycles have also started skyrocketing. During the last one and a half years, the prices of bicycles have increased by 100 per cent.
The price of a local bicycle priced at Rs9,000 has reached Rs19,000.
The price of an imported bicycle priced at Rs10,000 has reached Rs22,000 and the Rs18,000 bicycle Rs35,000
Due to the bad economic situation, three major factories of leading local brands of bicycles have closed down, resulting in more dependence on imported bicycles.
Due to the steep rise in the value of the dollar, the prices of imported bicycles have risen unbearably, while the 17 per cent sales tax levied on the import of bicycles has barely covered the cost.
