UNB, Dhaka :
Owners of local steel industries on Wednesday demanded increase of tax on the import of billet and withdrawal of tax from the import of chemicals in the upcoming national budget for fiscal 2014-15 to protect the local industries.
They also demanded withdrawal of VAT and advance income tax on all materials, including melting scrap, for production of billet locally.
The demands came from a press conference at Dhaka Reporters Unity, organized jointly by Bangladesh Auto Re-rolling and Steel Mills Association (BARSMA), Bangladesh Steel Mills Owners Association (BSMOA) and Bangladesh Re-rolling Mills Association (BRMA).
BARSMA general secretary Abul Kasem Majumder read out written statement at the press conference on behalf of the three organisations.
BARSMA president Masadul Alam Masud, BSMOA chairman Seikh Fazlur Rahman Bakul, its secretary general Md Shahjahan, and BRMA secretary general Abu Bakar Siddique also addressed the press conference.
In his written statement, Abul Kasem Majumder demanded imposition of 15 percent value added tax (VAT) or raising the duty by another Tk 7,500 on import of per tonne of billet in the upcoming budget.
He also demanded withdrawal of 15 percent VAT and 5 percent advance income tax on import of all materials, including Ferro-manganese, Ferro-silicon, and Ferro-silico manganese, which are used in the production of billet locally to save the steel industries.
Majumder requested the government to meet their eight-point demand, including increase of tax on import of billet and withdrawal of tax from import of chemicals in the upcoming budget.
Masadul Alam Masud said quality of MS rod manufactured by the local steel industries is very good. Besides, 20 lakh people are involved in the steel industry alongside the owners, workers and others engaged in the sector.
