DHAKA, March 1, 2021 (BSS) – National Board of Revenue (NBR) Chairman Abu
Hena Md Rahmatul Muneem today said that the existing support measures
starting from import of raw materials to other sectors would continue for the
sake of flourishing local industries.
“One of the main targets of NBR is flourishing of industries and protecting
their interests alongside collecting revenues,” he said.
The NBR chairman said this while addressing a pre-budget meeting for the
next fiscal year (FY22) with the leaders of Bangladesh Ceramic Manufacturers
and Exporters Association at the NBR building in the city’s Segunbagicha
area.
Muneem said, “For this, we’re lending support to those areas where local
industries will be able to do much better, import substitute system will be
developed, conservation of local currency and generating more employments
will be ensured,” he added.
He said the revenue board always gives priority to the valuable
suggestions from the business community about import of raw materials and
other products as well as on VAT to protect the interest of the local
industries.
Muneem, also the Senior Secretary of the Internal Resources Division,
mentioned that such pre-budget meetings are being held every year with the
business community so that decisions could be taken for the sake of
development of the local industries.
Bangladesh Ceramic Manufacturers and Exporters Association president M
Sirazul Islam Molla placed a demand to the government for bringing down the
import duty on raw materials of ceramic products to five percent.
He informed that there are some 68 ceramic industries in the country
meeting 90 percent of the local demand with a total investment of around Taka
9,000 crore and thus saving huge foreign currency.
“This labour-intensive industry is suitable for our country, but around 90%
of its raw materials are being imported from abroad. We’re not being able to
compete fully with our foreign competitors due to high duty imposed on import
of raw materials,” he said.
Sirazul informed that various types of raw materials like zirconium
silicate, printing ink, nano chemicals and calcium used in this industry are
mostly import dependent and maximum 90 percent duty is imposed on these
items.
The Association president said that once upon a time ceramic was totally
import dependent, but now around 80 to 90 percent of the overall demand of
ceramic products are being met from the local industries.
Sirazul, however, suggested for increasing duty on import of foreign
ceramic products to safeguard the local industries.