Importers, printing press demand duty cut on import-dependent papers

 3.0-5.0pc duty sought instead of 47pc

| Updated: June 06, 2022 10:42:47

Importers, printing press demand duty cut on import-dependent papers

Paper importers and the printing and packaging sector leaders on Saturday demanded a reduction of import duty on the papers that are not produced in Bangladesh.

Leaders of the sector said only eleven types of paper are produced locally while the rest of other quality come from overseas at  47 per cent of duties which should be 3.0 to 5.0 per cent maximum. 

The demand came at the first meeting of the standing committee on paper, paper products, printing and packaging organised by the FBCCI on Saturday at its office in the city, said an FBCCI release. 

Despite being self-sufficient in paper production, India imposes 18 per cent, Indonesia 19  and China 17 per cent on paper imports. 

Since Bangladesh is still import-dependent on paper, businessmen called for reviewing the duty and fixing 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 the prices of raw materials. 

Traders are forced to buy raw materials at high prices and sell those at low rates, said the carton manufacturers thus causing losses as well as shutting 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 fetch a share of the market, he said. 

 “The printing and packaging occupy 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 emphasised 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 the garment sector if the government provides proper policy support. 

FBCCI Director 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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