Plastic makers demand import duty cut to 1.0pc

Bangladesh's plastic manufacturers on Wednesday called for cutting the import duty on capital machinery to 1.0 per cent and other fiscal support similar to the apparel sector.

The Bangladesh Plastic Goods Manufacturers and Exporters Association (BPGMEA) also called for lowering the proposed value-added tax (VAT) on table and kitchenware from 15 per cent to 5.0 per cent, safeguarding local toy manufacturers, and lowering the import duty on chillers, a vital piece of equipment for the sector.

It raised the demands in its 15-point revised proposals put forward at a post-budget press conference held at its office in the capital's Paltan area.

The association wants the authorities concerned to consider the proposals before finalising the budget for the next fiscal year.

BPGMEA President Shamim Ahmed, Senior Vice President KM Iqbal Hossain, Vice President Md Enamul Haque, and former president ASM Kamal Uddin were present on the occasion, among others.

Highlighting the dire straits that plastic manufacturers are in, the association's president said an estimated 20 per cent of factories had been closed in the last 12 to 18 months.

"Nearly 20 per cent of the 6,000-7,000 plastic goods-making companies have suspended operations or are on the verge of closure due to energy crisis and other factors," he said.

"Gas is like a key ingredient for plastic makers, while it is a utility for others," said Mr Shamim.

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