Leaders of the Bangladesh Paper Mills Association have demanded that the government reduce supplementary duty on thermal coating slurry and withdraw regulatory duty on dextrin and other modified starch at the import level to promote the local industry.

They also demanded imposing 10 per cent extra supplementary duty on import of Jumbo roll BOPP tape which is used as packaging tape.

Based on rising demand for paper towel and clinical bed sheet amid the Covid outbreak, they suggested that the government should set 5 per cent value-added tax on the local products to minimise the prices of the products.

At a pre-budget discussion with the National Board of Revenue held on March 14 at the seminar room of the revenue board, the BPMA leaders made the proposals.

They said that there were 300 factories related to the paper industry producing several types of papers to meet the local market demand.

The total investment in the sector is Tk 70,000 crore and 15 lakh people directly and 60 lakh people indirectly are engaged in the sector which has been hit hard by the Covid fallout, the leaders said.

To maintain the growth of the sector, they suggested that the revenue authority cut the supplementary duty to 15 per cent from the existing 25 per cent on thermal coating slurry and withdraw the existing 15 per cent regulatory duty on dextrin and other modified starch at import.

They also said that the local industries were producing sticker papers and Jumbo roll BOPP tape targeting the local market and for promoting the industry the government should impose 10 per cent extra supplementary duty on import of the items.

They said that due to the absence of a fixed VAT rate on paper towels, clinical bed sheets, art paper and art cards the prices of such locally produced products were a little higher than the imported products.

So the government should introduce 5 per cent VAT according to the VAT act 2012 to minimise the price of products, they said.

NBR customs policy member Md Masud Sadiq attended the discussion and said that the NBR would review the demands.

Sign up to exclusive daily email

Mercantile Bank chairman, NRBC collude in huge loan, share scams

Global trade unions’ campaign about labour repression baseless: BGMEA

US job growth slows, but wages rebound strongly

Borrowing thru high-interest NSCs, govt repays Tk 21,600cr ‘cheap’ bank loans

Policy support could unlock jute’s prospect to be growth driver

Shakib Al Hasan’s Monarch Mart signs MoU with Grameen Uniqlo

German farmers in Ukraine press ahead in defiance of war

UK govt to force P&O into U-turn after mass sacking

Giant white diamond ‘The Rock’ makes debut in Dubai

Indian IT giant plays down Russia ties after UK finance chief grilled

Editor: Nurul Kabir , Published by the Chairman, Editorial Board ASM Shahidullah Khan on behalf of Media New Age Ltd. Hamid Plaza (4th floor), 300/5/A/1, Bir Uttam CR Datta Road, Hatirpool, Dhaka-1205. PABX: +8802-9632245-48. Fax: +8802-9632250, E-mail: [email protected]

Sign up to exclusive daily email

© 2022 Media New Age Limited or its affiliated companies. All rights reserved. | Developed By HTG Solution Ltd.