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BPGMEA hails budget for reducing tax on import of plastic raw materials

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12th-Jun-2018       
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Business Desk :
Bangladesh Plastic Goods Manufacturers and Exporters Association (BPGMEA) has congratulated the government for giving tax exemption to plastic recycling industries and reducing duty on import of plastic raw materials.
"We congratulate the government for its consumer-friendly initiative of reducing duty on the import of main raw materials of plastic - coated calcium carbonate - to 5 percent from existing 25 percent in the proposed budget of fiscal 2018-19," said BPGMEA President Md Jashim Uddin in a budget reaction on Monday.
He also thanked Finance Minister Abul Maal Abdul Muhith for placing thebudget of fiscal 2018-19 for 12 times before the parliament, saying "The sizeof budget, per capita income, ratio of Gross Domestic Product (GDP) and reserve of foreign currency have increased while poverty has decreased during the period."
Noting that Bangladesh is now on the route to become a developing one, Jashim said it has become possible due to the dynamic leadership of Prime Minister Sheikh Hasina and Finance Minister's time befitting initiatives, said a press release.
The BPGMEA president urged the government for withdrawing 5 percent supplementary tax imposed on all kind of plastic bags and packaging materials in the proposed budget, terming it will bring harm to the country's plastic industry.

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