Import, production VAT on light engineering goods to be same

State Minister for Industries Kamal Ahmed Majumder on Saturday said that steps would be taken to keep same the value added tax (VAT) system at the import and production levels of the products of light engineering industries.

Like the readymade garment (RMG) sector, providing all kinds of necessary support to the light engineering sector is also under active consideration of the government, he added.

The state minister was addressing a discussion on the light engineering sector, organised jointly by Bangladesh Industrial and Technical Assistance Center (BITAC) and the daily Jugantor, which was held virtually through Zoom Platform, said a Ministry press release.

Chaired by Jugantor Editor Saiful Islam, Industries Secretary KM Ali Azam spoke at the virtual meeting as the special guest while Director General of BITAC Dr Md Mofizur Rahman moderated the programme, reports BSS.

Mentioning that the light engineering sector would play an important role in attaining the targets of the Vision-2041, Kamal said realising its importance, Prime Minister Sheikh Hasina has declared the year 2020 as light engineering products year.

BSCIC Chairman Mostaque Hasan, SME Foundation managing director Shafiqul Islam, BITAC Director Dr Ihsanul Karim, BUET Prof Kamal Uddin, MIST Prof Dr AKM Nurul Amin, Bangladesh Trade and Tariff Commission member Shah Md Abu Raihan Al Beruni spoke, among others, at the meeting.