Special measures have been taken to protect Small to Medium Enterprises (SMEs) in the proposed national budget for FY2020-21.
Finance Minister AHM Mustafa Kamal in the budget speech regarding the sector said: "I have proposed to reduce the tax rate on import of some of the raw materials used in the production of SME products".
"Duty and taxes on import of some products have been proposed to increase protection to SMEs" he added.
The minister also proposed to increase the current duty rate to 25% from 15% on the import of honey in bulk to protect indigenous honey farmers.
