BSS-50 BPGMEA proposes for reducing import duty on raw materials

491

ZCZC

BSS-50

BPGMEA-PRE BUDGET

BPGMEA proposes for reducing import duty on raw materials

DHAKA, March 14, 2021 (BSS) – The leaders of Bangladesh Plastic Goods Manufacturers and Exporters Association (BPGMEA) today demanded of the government to reduce the existing import duty on raw materials of plastic products to five percent from the existing 10 percent.

BPGMEA president Md Jashim Uddin made the demand at a pre-budget meeting with the National Board of Revenue (NBR) for the next fiscal year (FY22) held at the NBR conference room in the city’s Sher-e-Bangla Nagar area.

NBR Chairman Abu Hena Md Rahmatul Muneem chaired the meeting.

Seeking protective measures for the local industries, Jashim said that the demand of various plastic goods like pipes, doors, chairs, tables are on the rise both at home and abroad while a huge scope for exports would be created if the production cost could be reduced.

But, he said the raw materials of such plastic products like pvc stabilizer, stearic acid, polyethylene wax and transfer paper are totally import dependent adding, “Export of plastic goods can be increased manifold if duty on import of its raw materials could be reduced to 5% from the existing 10%,” he added.

Besides, the BPGMEA president also demanded of the government to impose 25 percent duty on import of plastic box, snack box, bag, tray, table and kitchen appliances side by side taking steps to stop import of such iteams through imposing advance tax and supplementary duty to protect the local industries.

Meanwhile, another delegation of the Bangladesh Garment Accessories and Packaging Manufacturers and Exporters Association (BGAPMEA), led by its president A Abdul Kader Khan, held a pre-budget discussion with the NBR.

As a backward linkage of the RMG sector, the BGAPMEA leaders demanded of the government to reduce the existing tax at source at 0.25 percent from the existing 0.50 percent.

Besides, it also demanded to reduce its corporate tax at 12 percent from the existing 32.5 percent.

In response, the NBR chairman said that it is the duty of the revenue board to realize revenue through adopting economic growth-oriented policy to protect the local industries.

“We’ll try our level best to collect revenues in one hand and keeping up growth on the other hand to protecting the local industries,” he added.

BSS/ASG/RI/GM/MMA/2116hrs