Plea to fix import duty of plastic raw materials on int'l market price basis
Monday, 24 November 2008
FE Report
Bangladesh Plastic Goods Manufacturers and Exporters Association (BPGMEA) urged the National Board of Revenue (NBR) Sunday to calculate duties on imported plastic raw materials on the basis of the current international market prices.
The association has claimed that as a result of calculating the valuations based on old prices, the importers are incurring substantial financial losses.
Jahim Uddin, BPGMEA president in a statement said many plastic importers are not taking delivery of their consignments from port yards due to the higher valuation.
He claimed that around 250 containers containing plastic raw materials remained stuck at the Chittagong port for long due to valuation calculated on the basis of old prices.
He said the prices of plastic raw materials dropped to around US$800 per tonne from US$1800 in the international market recently.
Bangladesh Plastic Goods Manufacturers and Exporters Association (BPGMEA) urged the National Board of Revenue (NBR) Sunday to calculate duties on imported plastic raw materials on the basis of the current international market prices.
The association has claimed that as a result of calculating the valuations based on old prices, the importers are incurring substantial financial losses.
Jahim Uddin, BPGMEA president in a statement said many plastic importers are not taking delivery of their consignments from port yards due to the higher valuation.
He claimed that around 250 containers containing plastic raw materials remained stuck at the Chittagong port for long due to valuation calculated on the basis of old prices.
He said the prices of plastic raw materials dropped to around US$800 per tonne from US$1800 in the international market recently.