Paper traders demand 80pc import duty cut

Paper traders on Saturday called on the government to reduce the import duty to five per cent from 25 per cent in the budget to help the local industry flourish.

They made the call at a press conference at the Economic Reporters Forum (ERF) auditorium in the capital.

Six organisations – Bangladesh Paper Importers Association, Bangladesh Paper Merchants Association, Bangladesh Pathapustuk Mudron O Biponon Samity, Chattogram Paper O Selophin Babosai Group, Metropolitan Press Owners Association, and Bangladesh Mudron Shilpo Samity – organised the event, UNB reported.

The annual local demand for raw materials of paper is 5,00,000 tonnes but less than 2,000 tonnes are imported legally, Paper Importers Association President Shafiqul Islam Bharosa pointed out.

In a written statement, Mudron Shilpo Samity chief Shahid Serneabat said that accepting their demands will help create a balanced market.

“We urge the government to fix the import duty at five per cent from the existing 25 per cent to help the local industry flourish,” Bharosa said. “This will encourage legal imports.”