• Tuesday, Dec 10, 2019
  • Last Update : 10:27 pm

Paper importers demand FY20 budget set import duty at 5%

  • Published at 04:39 pm June 22nd, 2019
web- Elections not contributing enough to the paper business
File photo: Papers, typically used for printing posters and leaflets being unloaded at the city's Nayabazar Mahmud Hossain Opu/Dhaka Tribune

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.