The country's plastic goods manufacturers recently suggested the government to impose anti-dumping duty in the next national annual budget on import of certain plastic products from India.
The imported plastic products include toys, melamine, plastic jewelry items, hair band and clip, according to the suggestions made in the budget proposals of the Bangladesh Plastic Goods Manufacturers and Exporters Association (BPGMEA).
The national budget for the fiscal year 2018-19 (FY19) will be announced in the Jatiya Sangsad (parliament) in early June.
Through imposing a rational anti-dumping duty on these types of plastic goods, the country's economy will get a positive result, according to the budget proposals of the BPGMEA.
They also proposed to impose necessary Regulatory Duty (RD) on the products which have initial sign of dumping.
The BPGMEA also requested the authorities concerned to raise import duty on 'readymade plastic products' with a view to increasing use of local plastic products and encourage the local entrepreneurs.
They said currently Bangladesh produces world class plastic goods. But still sub-standard quality plastic products from India, China and others countries are entering the country.
For this reason, Bangladeshi manufacturers are facing unfair competition from the plastic item manufacturers of those countries, they said, proposing the authority to increase the existing Advance Income Tax (AIT), Supplementary Duty (SD) and RD on import of different types of plastic products.
Besides, maximum level of RD could be imposed on products that were exempted from RD in the current budget, they said. The products include boxes, cases, crates and similar article, sacks and bags, trays for transportation and keeping of chicks and eggs, nursery trays for seedlings, tableware, kitchenware, doors, windows and other frames, garments accessories etc.
The BPGMEA leaders also suggested to reduce of import duty on plastic goods-manufacturing raw materials from the existing 25 per cent, 15pc, 10pc and 5.0pc to 7.5 and 2.0pc.
The personal tax free income ceiling should be raised to Tk 350,000 from the present Tk 250,000 considering inflation and increase in prices of various items of day to day necessities, they also mentioned in their proposals.