DHAKA, Feb 10, 2022 (BSS) - Businessmen at a meeting today said

most of the backward linkage industries in the country are small and
medium sized and demanded to reduce corporate tax rate in this sector.

   They also demanded to fix corporate tax of 10 to 15 per cent for
the backward linkage industries to increase competitiveness.

   They made the demand at the first meeting of the FBCCI Standing
Committee on 'Backward Linkage Industries' held on Thursday at FBCCI
Icon, said a press release.

   Abul Kalam Bhuiyan, chairman of the committee, said lowering the
corporate tax to 10 to 15 per cent would help in the development of
the backward linkage industry. He also said that the entrepreneurs
should get industry plots at affordable cost for expansion of the
industry.

   Speaking as the chief guest at the meeting, FBCCI Vice President MA
Momen said that today's most of the giant companies have started their
journey as backward linkage industry. Therefore, the role of this
industry in the overall development of the country is undeniable, he
said.

   "Industrialization is not possible without development of this
sector. If there is no backward linkage, the supply chain of the
industry will break down. Therefore, the development of this industry
is very important. The government should give due importance to this
sector in setting policy," he said.

   Director-in-charge of the committee Joshoda Jibon Debnath called
upon the backward linkage industrialists to take concerted initiative
to establish a separate industrial zone for the sector.

   He assured of cooperation to get the necessary bank loan for this.
The expansion of the backward linkage industry is essential to meet
the challenges of post-LDC industrialization, he added.

   At the meeting, the businessmen pointed out harassment of revenue
and port officials, excessive licensing and renewal provisions,
violation of PPR in government procurement process, duty inequality in
importing the same product between export oriented and backward
linkage industries as major obstacles to its development.

  At the same time, they demanded inclusion of backward linkage
industry in the forthcoming industrial policy, provision of land at
affordable rates, making BSCIC more dynamic and improved, giving
priority to local products in government procurement as per PPR and
discouraging imports to protect locally produced products.

   Among others, FBCCI directors Bijoy Kumar Kejriwal and Harun or
Rashid, co-chairmen of the committee Chaitanaya Kumar Dey (Chayan),
Md. Salauddin Yusuf and Zia Hayder Mithu and FBCCI Secretary General
Mohammad Mahfuzul Hoque were also present at the meeting.