Drug manufacturers propose cut in import duty on raw materials

FE Report
Pharmaceutical manufacturers proposed Thursday to cut import duty on raw materials in a bid to accelerate export growth of drugs.
They also proposed to revise existing Statutory Regulatory Order (SROs) in respect of new generation drugs.
The association leaders placed the pre-budget proposals for fiscal year (FY) 2014-15 before the National Board of Revenue (NBR) on the day.
Representatives from different sectors including pharmaceuticals, herbal and ayurvedic medicines, clinic, diagnostics, chemicals, Information and Communication Technology (ICT), paints, cosmetics, electronics and electrical goods,  private medical college, leather and footwear, chemicals importers and merchants and jewellers associations placed their respective proposals for the next budget.
Local television, refrigerators and other electrical and electronics product manufacturers sought the government's support to flourish the sector.
Bangladesh Refrigerator Manufacturers' Association representatives said the country's manufacturers have capacity to produce 2.2 million units of refrigerators against the local demand for 0.8 million pieces.
They sought increase in Supplementary Duty (SD) to 60 per cent from existing 30 per cent to discourage import of the item.
Internet service provider association president Akhtaruzzaman Monju sought withdrawal of duty on import of networking machinery and data transmission link.
Bangladesh Association of Software and Information services (BASIS) members proposed extension of tax holiday facilities on software and IT services until 2025 to encourage large investment in the sector.
Private medical college association sought waiver of 15 per cent tax on income of the colleges.

Leather industry owners proposed withdrawal of duty on import of chemicals, waivers of tax at source and general bonded warehouse facility.