They want the government to decrease the rate from 25%, to help the local industry flourish
Bangladesh's paper importers have urged the government to decrease the import duty in the FY 2019-20 budget from the existing 25% to 5% – to help the local industry flourish.
The demand was raised at a press conference at the Economic Reporters Forum (ERF) in Dhaka on Saturday, reports UNB.
Six organisations—the Bangladesh Paper Importers' Association, the Bangladesh Paper Merchants' Association, Bangladesh Pathapustuk Mudron O Biponon Samity, Chittagong Paper O Selophin Babosai Group, Metropolitan Press Owners Association, and Bangladesh Mudron Shilpo Samity—organized the briefing.
The annual local demand for paper, as a raw material, is 500,000 tonnes; but, less than 2,000 tonnes are legally imported, Paper Importers Association President Shafiqul Islam Bharosa said.
Mudron Shilpo Samity chief Shahid Serneabat said accepting their demands will help create a balanced market.
"We urge the government to set an import duty at 5% from the existing 25% to help the local industry flourish," Bharosa said.
"This will encourage legal imports," he said.