DHAKA, April 7, 2019 (BSS) – Bangladesh Oceangoing Ship Owners’ Association (BOGSOA) today sought financial stimulus and other facilities enjoyed by export oriented industries.
The BOGSOA leaders said the oceangoing ship sector was declared as industry in 1994 but they are yet to receive financial and other facilities.
They raised the issue in a meeting with Industries Minister Nurul Majid Humayun at the ministry office.
They sought the intervention of the minister for deduction of tax at source, UDF loan and packing loan along with the financial stimulation.
In the meeting, problems and potentialities of Bangladesh-flagged oceangoing vessel industry was discussed.
Mentioning that over 90 percent of the freight charges regarding import is being taken away by the foreign owners, the BOGSOA leaders said it is possible to save at least $ 2.5 billion annually through providing income tax and a few other facilities to the local maritime freight owners.
They said National Board of Revenue (NBR) has imposed 5 percent advanced income tax on ship import which is affecting the entrepreneurs of the sector.
The BOGSOA leaders drew the attention of the industries minister to minimize the exiting tax and other disparities.
Appreciating the contribution of the oceangoing vessel industry, the industries minister said they would forward recommendations to the NBR after scrutinizing their demands.
He also assured the BOGSOA leaders of continuing the government support to them and other local industries.
Industries Secretary Md Abdul Halim, BOGSOA President Azam J Chowdhury, Vice President Mostafa Kamal and Sheikh Bashir Uddin, Secretary General Rear Admiral (Retd) A S M Abdul Baten and Member Md Shahjahan were present in the meeting.