General

NBR’s policy support to continue for flourishing local industries: Muneem

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.

Source: Bangladesh Sangbad Sangstha (BSS)