Home Today's Paper Most Popular Video Gallery Photo Gallery
Subscription Blog Signin Register
Logo
Saturday, April 20, 2019 09:24:21 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

Football »

FIFA backs English players' social media boycott over racism


AP, England :FIFA is backing a 24-hour social media boycott by professional players in England in a protest against racial abuse and revealed plans for a new global campaign to eradicate discrimination in soccer.Following a series of high-profile cases in recent weeks, the Professional Footballers' Association has gathered support from ...

International »

US President Trump declares victory on Mueller report D-Day


President Donald Trump, backed by his attorney general, declared himself fully vindicated on Thursday in the investigation into Russian election meddling and alleged collusion with his campaign - even before the American people and lawmakers see the full probe report."Game Over," Trump tweeted, using a "Game of Thrones" style montage ...

Entertainment »

Shanta Jahan in Australia for hosting


Sheikh Arif Bulbon :Shanta Jahan is a popular host of present time. Though she acts sometimes but always feels comfortable to present herself as a host to all. For the first time Shanta went to Australia to host a show. She left Dhaka at night on April 18. Today is ...

Editorial »

One is punished for another's sin!


LOCAL media reported that a day labourer was allegedly sent to jail on Wednesday for not paying electricity bill of Tk 4007, even though his house at Mochagora village in Muradnagar upazila in Cumilla district had no electrical line. On Thursday evening, Chief Judicial Magistrate granted him bail after hearing ...

Cricket »

Sri Lanka dump Chandimal, bring back Thirimanne for World Cup


AFP, Colombo :Sri Lanka Thursday dumped established stars including former captain Dinesh Chandimal to hand batsman Lahiru Thirimanne and leg-spinner Jeffrey Vandersay a place in their World Cup squad.Chandimal, who was one-day captain until last October, wicketkeeper-batsman Niroshan Dickwella, off-spinner Akila Dananjaya, openers Danushka Gunathilaka and Upul Tharanga were all ...

Cricket »

Senior players need to take the responsibility: Faruk Ahmed


Former chief selector Faruk Ahmed insisted on the performance of the senior players, stating that they need to take the onus if Bangladesh want to do well in the upcoming ICC Cricket World Cup.According to Faruk, the condition should give Bangladesh a confidence, given that they stormed into the semifinal ...

Entertainment »

Mehazabien’s Boishakhi works create viewers’ attention


Sheikh Arif Bulbon :For the last few years, Mehazabien Chowdhury established her strong position in media by virtue of her acting quality and skill. She is now getting positive response for acting in two Boishakhi plays. Afran Nisho was her co-actor in these two plays - Tom & Jerry and ...

International »

Turkish opposition takes control of Istanbul, re-run appeal still pending


Reuters, Istanbul :Turkey's main opposition candidate took office as Istanbul mayor on Wednesday after a stunning victory over President Tayyip Erdogan's AK Party, but the new head of the country's largest city still faces an appeal for the vote to be re-run.The final result of the March 31 local elections ...

Editorial »

Power politics in Egypt


A HUGE majority of Egypt's MPs on April 16 approved constitutional amendments to allow President Abdel-Fattah al-Sisi in power until 2030. The amendments were initially introduced in February, however after lengthy debates and discussions favouring the Egyptian society it was updated earlier this week. "The president's current term shall expire ...

Football »

Iniesta's J-League club Kobe part ways with coach Lillo


AFP, Tokyo :Barcelona legend Andres Iniesta's Vissel Kobe have terminated the contract of manager Juan Manuel Lillo following a poor run of results, the Japanese club said on Wednesday.The 53-year-old former Real Sociedad and Zaragoza boss won just two of six games since taking charge last October as star-studded Vissel ...

International »

US waging 'financial war' against Palestinians


AP, Ramallah, West Bank :The new Palestinian prime minister on Tuesday accused the United States of declaring "financial war" on his people and said an American peace plan purported to be in the works will be "born dead."In his first interview with international media since taking office over the weekend, ...

City »

Various organisations formed a human chain in front of Jatiya Press Club on Wednesday marking the International Krishok Sangram Dibash-2019.


Entertainment »

Priya Bapat to take up a web series


Web Series are surely the in thing nowadays and so many actors, irrespective of their stardom, are being seen in them. Marathi superstar Priya Bapat has also bagged a web series called City Of Dreams. Sharing her experience of being part of the series, she says, “Web series are now ...

Editorial »

Urgent steps needed to check outbreak of diarrhoea


AT the advent of summer this year, the number of diarrhoea patients has already crossed the recent records. International Centre for Diarrhoeal Disease Research, Bangladesh, and the other city hospitals are struggling to tackle the surge in diarrhoea patients. The diarrhoea patients admitted to the ICDDR,B has crossed the number ...

Cricket »

Tearful Taskin vows to make a strong comeback


Fast bowler Taskin Ahmed vowed to make a strong comeback after being snubbed from the 15-member World Cup squad, announced by the Bangladesh Cricket Board (BCB) on Tuesday.Chocked with emotions as tears were rolling down from his cheek Taskin shared his disappointments with media."Its' ok just pray for me," Taskin ...

 
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