Cut import duty on paper not produced in BD

Printing and packaging sector leaders demand

FE REPORT | Published: June 04, 2022 22:28:56

Paper importers and the printing and packaging sector leaders on Saturday called for reducing import duty on paper which are not produced in Bangladesh.
They said only 11 types of paper are produced locally while some others are imported at 47 per cent duty, which should be a maximum of 3.0-5.0 per cent.
The demand came at the first meeting of the standing committee on paper, paper products, printing and packaging organised by the Federation of Bangladesh Chambers of Commerce and Industry (FBCCI) at its office in the city, says a statement.
Despite being self-sufficient in paper production, India imposes 18 per cent, Indonesia 19pc and China 17pc levy on paper import.
Since Bangladesh is still import dependent for paper, the leaders of the sector called for reviewing the duty and fix it between 3.0 and 5.0 per cent.
They also urged the government to facilitate the import of the paper for the NCTB books at zero duty.
Carton makers complained there is no regulation in raising prices of raw materials.
Traders are forced to buy raw materials at high price and sell those at low rates, said the carton manufacturers thus causing losses as well as to shut down the business.
"Apart from that, a 5.0 per cent AIT on raw materials and 7.0 per cent TDS have also to be paid on finished goods, which is illogical", they claimed.
Speaking as the chief guest, FBCCI Vice-President Md Amin Helaly informed that the global outsourcing market for printing and packaging products is worth $ 3.0 trillion.
Bangladeshi entrepreneurs should try to grab a share of the market, he mentioned.
The printing and packaging occupies almost 15 per cent of the total production cost of a product which indicates the country earns $ 6.0 billion through its indirect exports, he added.
Emphasising on a comprehensive policy including both the government and the private sector to grab the global market, Director In-Charge of the standing committee Md Shafiqul Islam Vorosha said that coordinated effort is much needed to develop the paper and paper-based products industry further.
Chairman of the standing committee Md Esharot Hossain said the printing sector would contribute to the country's economy as like as the garment sector if the government provides proper policy supports.
FBCCI directors Bijoy Kumar Kejriwal, Abu Motaleb, Harun Or Roshid, Rezaul Islam Milon and Secretary General Mohammad Mahfuzul Hoque also spoke, among others.
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