BOGSOA seeks financial stimulus for oceangoing ships

Bangladesh Oceangoing Ship Owners' Association (BOGSOA) on Sunday sought financial stimulus and other facilities enjoyed by export oriented industries.

The BOGSOA leaders said the oceangoing ship sector was declared as industry in 1994 but they are yet to receive financial and other facilities, reports BSS.

They raised the issue in a meeting with Industries Minister Nurul Majid Humayun at the ministry office.

They sought the intervention of the minister for deduction of tax at source, UDF loan and packing loan along with the financial stimulation.

In the meeting, problems and potentialities of Bangladesh-flagged oceangoing vessel industry was discussed.

They said National Board of Revenue (NBR) has imposed 5 per cent advanced income tax on ship import which is affecting the entrepreneurs of the sector.

The BOGSOA leaders drew the attention of the industries minister to minimise the exiting tax and other disparities.

Appreciating the contribution of the oceangoing vessel industry, the industries minister said they would forward recommendations to the NBR after scrutinizing their demands. He also assured the BOGSOA leaders of continuing the government support to them and other local industries.