Printing and packaging sector entrepreneurs urged the government to withdraw more taxes and duties on raw materials to help the industry.
They said that the printing and packaging sector would incur financial losses due to additional taxes and duties in the proposed budget for fiscal year 2022-2023.
They made the demand at a meeting at the Federation of Bangladesh Chambers of Commerce and Industry (FBCCI) office on Thursday.
The meeting discussed that the budget proposed increasing duties on imported paper, paper board, art card and art paper to 25% from the existing 15% while on printing plate to 10% from the existing one 1% and on printing ink to 15% from the existing 10%.
While presiding over the meeting Vice-President of FBCCI Md Amin Helaly said that due to additional taxes and duties in the proposed budget on raw materials, the packaging and printing costs would increase to a great extent and thus have a negative effect on the overall education system and the sector.
He said that the local entrepreneurs would also lose their export competitiveness due to additional taxes and duties.
He said that if the government reduces additional import taxes and duties then importing paper through legal channels would increase the government revenue.
He called upon the government to allow duty free import of paper used for books.
President of Bangladesh Paper Importers Association (BPIA) and also the director of FBCCI Shafiqul Islam Barosha, directors of FBCCI Rabbani Jabbar and Humayun Rashid Khan Pathan, and Chairman of Bangladesh Printing Industry Association Shaheed Serniabat, and Vice-President of Bangladesh Pustok Prokashak and Bikreta Samity Shaymal Pal were present, among others, at the meeting.
