Electric goods export grows by 74pc
Sunday, 15 May 2011
FE Report
The country's electric goods export grew by more than 74 per cent in ten months of the current financial year, Export Promotion Bureau (EPB) data revealed. Bangladesh exported electric products such as fans, bulbs, cables and refrigerators worth US$ 30.09 million in the July-April period of the 2011 fiscal while the figure was $ 17.27 million in the same period of the 2010 fiscal, the EPB data showed. According to the EPB, export in the first ten months of the 2011 fiscal has surpassed the overall export of the 2010 fiscal when electrical and electronic products worth $ 26.11 million had been shipped. The target for the running fiscal year has been set at $ 41.78 million, the Bureau said. Export can be increased much more if the import duty on raw materials is reduced, the owner of a leading electrical fan producing company said. Talking to the FE he said they need raw materials including metapoli pripline plime (MPP), castor oil, aluminium shit, aluminium can, lead wire, etc to make a fan. He urged the authorities to slash the import duty on raw materials from 12 per cent to 5.0 per cent to boost production. "The production cost will decrease significantly if the import duty is reduced," he said. He also said if the government reduces the import duty and increases the supplementary duty on finished electric products, it would bring down the entry of foreign items. According to him, over 100 companies are involved in fan manufacturing in the country, where 25,000 fans are produced per day. "We are now exporting the item after meeting the local demand," he added. General Secretary of Bangladesh Refrigerator Manufacturers, Association Mizanur Rahman told the FE that his firm alone will be able to export goods worth $ 100 million by 2012.
The country's electric goods export grew by more than 74 per cent in ten months of the current financial year, Export Promotion Bureau (EPB) data revealed. Bangladesh exported electric products such as fans, bulbs, cables and refrigerators worth US$ 30.09 million in the July-April period of the 2011 fiscal while the figure was $ 17.27 million in the same period of the 2010 fiscal, the EPB data showed. According to the EPB, export in the first ten months of the 2011 fiscal has surpassed the overall export of the 2010 fiscal when electrical and electronic products worth $ 26.11 million had been shipped. The target for the running fiscal year has been set at $ 41.78 million, the Bureau said. Export can be increased much more if the import duty on raw materials is reduced, the owner of a leading electrical fan producing company said. Talking to the FE he said they need raw materials including metapoli pripline plime (MPP), castor oil, aluminium shit, aluminium can, lead wire, etc to make a fan. He urged the authorities to slash the import duty on raw materials from 12 per cent to 5.0 per cent to boost production. "The production cost will decrease significantly if the import duty is reduced," he said. He also said if the government reduces the import duty and increases the supplementary duty on finished electric products, it would bring down the entry of foreign items. According to him, over 100 companies are involved in fan manufacturing in the country, where 25,000 fans are produced per day. "We are now exporting the item after meeting the local demand," he added. General Secretary of Bangladesh Refrigerator Manufacturers, Association Mizanur Rahman told the FE that his firm alone will be able to export goods worth $ 100 million by 2012.