Home Today's Paper Most Popular Video Gallery Photo Gallery
Subscription Blog Signin Register
Logo
Thursday, November 15, 2018 03:29:28 PM
Follow Us On: Facebook Twitter Twitter Twitter Twitter

Fridge, AC and compressor manufacturers demand conducive policy supports

By
13th-Sep-2018       
Comments
Share your thought
Post a comment »
Read all () »

Economic Reporter :
Local manufacturers of refrigerators, freezers, air conditioners and compressors urged the government for upholding the present industry-friendly policy supports in the next couple of fiscal years for the sustainable boom of hi-tech appliances manufacturing industry in Bangladesh.
They also demanded the withdrawal of 15 percent VAT on the locally made compressors and the elimination of imbalanced duties structure between the imported finished compressors and the raw materials of the locally made compressors.
It may be mentioned that the local fridge and air conditioner industry made a remarkable progress in the recent years. Earlier, the entire local market of fridges and ACs were fully import dependent.
But now, Bangladesh became self-sufficient in meeting the country's entire demands through its locally made fridges and ACs. Besides, Bangladesh is now exporting these appliances and spare parts. The local manufacturers targeted of bagging US$ 100 million from the export of fridges, air conditioners and spare parts in the year 2020.
The manufacturers of this sector said, they have been success in growing local electronics manufacturing industry for getting conducive duties and policy supports from the government.
Now, they think that more investment is required for the further boost of a sustainable and competitive manufacturing industry in Bangladesh. But, they are afraid of investing more due to the concern about whether the present policy supports to this sector will be continued or not in the coming fiscal years.
Mohammad Sahabuddin, general secretary of The Bangladesh Refrigerator Manufacturers and Exporters Association of Bangladesh, said, earlier the government announced VAT exemption benefit for the local refrigerator, freezer and air conditioner manufacturers till the current fiscal year 2018-19.
The local entrepreneurs are now showing their grave concern on the whether the present industry-friendly benefit will be continued or not in the coming fiscal years.
Thus, they demanded the continuation of the present VAT exemption for the next couple of fiscal years.
Sahabuddin also informed that the local compressors manufacturers have to pay 5 to 25 percent duties on the import of necessary raw materials whereas the finished compressors imports pay 5 percent duties.
In addition, the government imposed 15 percent VAT on the locally made compressors. Thus, the local compressors manufacturers urged the government for withdrawing the present VAT and imposing lower import duties for the necessary raw materials comparing to the duties of imported finished compressors.
Dr. Saleh Ahmed, former governor of Bangladesh Bank, said, the local entrepreneurs made a tremendous progress in the hi-tech appliances manufacturing industry of Bangladesh.
Now, customers are getting locally made quality fridges and air conditioners at affordable rates, he said adding that the fastest growth of the local appliances manufacturing industry also allures foreign investment in this sector.
To ensure the sustainable boost of this sort of industry in Bangladesh, he suggested the government continue the present industry-friendly policy supports.
 

Tariff
Add Rate

News Archive

Inside The New Nation

Entertainment »

Jaya Ahsan coming with Beauty Circus


Entertainment Report :Jaya Ahsan has already proved herself as an actress not only in Bangladesh but also in Kolkata. Now she is one of the busiest actors in Indian Bangla cinema whose commitment to her craft has taken her places including a circus. Jaya’s latest Bangladeshi film Debi, which also ...

Entertainment »

Bijori takes break on her birthday


Sheikh Arif Bulbon :Bijori Barkatullah was one of the popular TV actresses of her generation. She is not only an actress but also a dance artiste, model and host. Today is her birthday. She takes break on her birthday. Before birthday she also worked. Bijori informed that yesterday she took ...

Sports »

Rooney excited to see what `fearless` England are capable of


AFP, Burton-On-Trent :Wayne Rooney will make his final farewell as England's greatest ever goalscorer in a friendly against the United States on Thursday, but is excited at what a young squad can achieve under "fearless" coach Gareth Southgate in the years to come.Rooney, 33, made the last of his 119 ...

Sports »

Shoulder injury rules Jason Holder out of Bangladesh tour


Agency :Windies suffered a big blow as captain Jason Holder was ruled out of the Bangladesh tour with a shoulder injury. Holder is said to have suffered the injury during the recent tour of India, and will need at least four weeks to recover from the setback."Jason has a partial ...

Editorial »

Time for fixing banking irregularities


THE Bangladesh Bank's role as the custodian of the production and distribution of money and credit in the economy has been eroded by the finance ministry in the past decade. It's not a common people's remark. Rather, it came from a Director of the central bank while addressing a meeting ...

Sports »

Los Angeles Clippers guard Sindarius Thornwell (left) and Golden State Warriors forward Draymond Green scramble for a loose ball during the first half of an NBA basketball game in Los Angeles on Monday.


Football »

Rooney excited for 'great moment' in England farewell


Wayne Rooney says he is honoured to make a final appearance for England and happy for manager Gareth Southgate to decide his playing time Thursday against the United States.Former Manchester United star Rooney, in video comments released Monday by his Major League Soccer club DC United, detailed his excitement at ...

City »

Chief Election Commissioner KM Nurul Huda, among others, at a press briefing for returning officers on the occasion of eleventh parliamentary election in the auditorium of Election Commission Secretariat in the city on Tuesday.


International »

Nobody can stand in its way in Pacific island cooperation: China


Reuters, Beijing :No country can block China's cooperation with island nations in the Pacific and the area is no country's sphere of influence, a senior diplomat said on Tuesday, ahead of a summit between President Xi Jinping and Pacific island leaders.Australia, in particular, has been vying for influence with China ...

International »

Israel-Gaza border facing most serious fighting since 2014 war


Reuters, Gaza :Israel launched more air strikes on Gaza on Tuesday as Palestinians kept up rocket fire on Israeli territory, in the worst surge of violence since a 2014 war.The fighting - that has killed six Palestinians, five of them militants, and a civilian in Israel since Monday -threatened to ...

Entertainment »

Oishee in China to win `Miss World` crown


Jannatul Ferdous Oishee crowned 'Miss Bangladesh 2018' on November 30. Now, she is in China for participating in the 'Miss World' beauty contest. There she will represent Bangladesh. On Saturday night at 1:00 am, Oishi left Dhaka for Sanya in China. And she reached there on Sunday morning.Swapan Chowdhury, chairman ...

Football »

New York City forward David Villa (7) movers the ball as Atlanta United defender Miles Robinson (12) defends during the first half of their MLS playoff soccer match in Atlanta on Sunday.


Football »

Ronaldo ends San Siro hoodoo as Juventus beat Milan 2-0


AP, Milan :Cristiano Ronaldo ended his San Siro hoodoo to help Juventus to a 2-0 win after AC Milan forward Gonzalo Higuain missed a penalty against his former team on Sunday.Higuain left Juventus in the offseason following the signing of Ronaldo and he had a nightmare game as he was ...

Editorial »

No development yet in city's road traffic management


THE directives to ensure discipline in traffic system issued by higher authorities have failed to bring any result. The traffic rule violation is still rampant. Almost all directives addressing owners and workers of city service buses and human haulers, pedestrians and drivers went unheeded. If the traffic management system returns ...

International »

California wildfires: Death toll reaches grim milestone


The death toll in wildfires sweeping California has risen to 31, with more than 200 people still unaccounted for, officials have said.Six more people were confirmed killed in the Camp Fire in the north of the state, taking the toll there to 29.That fire now equals the deadliest on record ...

 
Items that you save may be read at any time on your computer, iPad, iPhone or Android devices.
 
Are you new to our website? Do you have already an account at our website?
Create An Account Log in here
Email this news to a friend or like someone
Email:
Write a comment to this news