The country's plastic goods makers have been bearing the brunt of increased import cost of raw materials due to the recent crisis in the Middle East and energy supply crunch in their factories, they said on Monday.
In consequence, their higher production cost has not only minimised their profit, but also affected their sales, which lead to closure of some factories, said the Bangladesh Plastic Goods Manufacturers & Exporters Association (BPGMEA) leaders.
BPGMEA President Shamim Ahmed and its Senior Vice President K M Iqbal Hossain came up with the observations at a press meet at their office in the city's Paltan area on the day.
While sharing the updates on the plastic sector they also termed the national budget for fiscal year (FY) 2026-27 'business friendly'.
Hailing the national budget, Mr. Shamim Ahmed said there have been several measures in the budget, which include continuation of 5.0 per cent import duty on PET and PVC resins.
"We are profoundly grateful to the Prime Minister for retaining the import duty on PVC and PET resins at 5.0 per cent instead of the proposed 10 per cent, " he said.
He also welcomed the government's eco-friendly initiatives, saying: "Lowering the source tax on recycled waste supply from 3.0 per cent to 1.0 percent is a highly positive step that aligns with global sustainability goals and encourages green industrial growth".
He, however, said some of their demands were not met in the budget including RMG-like facilities for all other sectors.
Highlighting the importance of the plastic sector, the BPGMEA president also said approximately 4,000 out of the country's 6,000 industries in the country's plastic sector cater to the needs of other industries.
He also said there has been a misconception that plastic is a pollutant industry, rather it is considered a green industry as around 38 per cent of plastic items are recycled in the country.
K M Iqbal Hossain said due to recent global instability, the procurement prices for crucial raw materials-- like PVC, Polypropylene, Polyethylene, and PET resins-- have surged by up to 25 per cent.
As a result, the cost of a 25-kg bag of PET resin jumped to Tk 5,200 from Tk 3200 previously, he added.
To cope with the rising costs, manufacturers have been compelled to adjust the retail prices of finished goods by 3.0 to 10 per cent, which has consequently dampened the consumer demand in different sectors, he mentioned.
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