The Federation of Bangladesh Chambers of Commerce and Industry (FBCCI) president, Mahbubul Alam, has demanded the withdrawal of duty imposed on the import of capital equipment by investors in Export Processing Zones (EPZ). He said, if there are benefits for investors in EPZ, foreigners will be interested in investment, domestic entrepreneurs will also come forward.
He said this at a press conference organized on Saturday (June 8) on the proposed budget 2024-25. The proposed budget for FY 2024-25 imposes a one percent duty on imports of capital equipment by investors in EPZs. Earlier there was zero percent duty on import of capital equipment.
Metropolitan Chamber of Commerce and Industry (MCCI) President Kamran T Rahman, Dhaka Chamber President Ashraf Ahmed and members of the Board of Directors of FBCCI and businessmen were present on the occasion.
FBCCI President said that Prime Minister Sheikh Hasina is discouraging the construction of factories on cropland. In this case, importers will not get incentive if the duty is levied on the import of capital equipment of the investors in EPZ. Demand to keep the duty free facility for another 5 years.
EAR/MAH/ASM
#FBCCI #seeks #withdrawal #duty #import #capital #equipment