Tax hike on billet import demanded

Owners of local steel industries on Wednesday demanded increase of tax on the import of billet and withdrawal of tax from the import of chemicals in the upcoming national budget for fiscal 2014-15 to protect the local industries.
They also demanded withdrawal of VAT and advance income tax on all materials, including melting scrap, for production of billet locally.
The demands came from a press conference at Dhaka Reporters Unity, organized jointly by Bangladesh Auto Re-rolling and Steel Mills Association (BARSMA), Bangladesh Steel Mills Owners Association (BSMOA) and Bangladesh Re-rolling Mills Association (BRMA).
BARSMA general secretary Abul Kasem Majumder read out written statement at the press conference on behalf of the three organisations.
BARSMA president Masadul Alam Masud, BSMOA chairman Seikh Fazlur Rahman Bakul, its secretary general Md Shahjahan, and BRMA secretary general Abu Bakar Siddique also addressed the press conference, according to UNB.