Bus, truck owners seek cut in duties

Bangladesh Bus, Truck Owners Association (BBTOA) has made a set of proposals including reduction of the custom duty on lubricating oil from the existing 25 per cent to 10 in the next budget. Their other demands include a cut in customs duty on bus and truck tyres from the existing 10 to 5 per cent. They said although the duty was reduced on tyres in the current fiscal year, the price of the product increased at least 15 per cent in the international market in last one year. The BBTOA put forward their demands to the National Board of Revenue (NBR) on Saturday. They also recommended keeping five or 10 per cent customs duty on minibus, light-truck and van tyres. Besides, 20 per cent supplementary and five per cent regulatory duty on diesel, petrol and oil filter were also proposed. The association also sought a cut in the bank loan interest to seven per cent for them.    — FE Report