Duty-free facility to import solar equipment proposed

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Staff Reporter :
Duty-free facility for importing solar equipment, withdrawal of VAT on apparel wastage collection and simplified customs procedures have been proposed for the sake of ease doing business in the country.

Businesses and private think-tanks came up with the proposals in a pre-budget discussion organized by the National Board of Revenue (NBR) at its conference room in the capital on Thursday.

NBR Chairman Abu Hena Rahmatul Muneem presided over the discussion while senior officials of the revenue board were also present.

Proposing for duty-free facility for importing six solar equipments in EPZs, the Business Initiative Leading Development (BUILD) Member Secretary Ferdaus Ara Begum said, “Currently, some 449 industries are located in the eight export processing zones (EPZs) across the country and the export-oriented industries get power supply from the national grid and power generation plants set up in the EPZs.”

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She also said, “Some industries in EPZs have already installed solar panels using modern technology.

As a result, it is contributing to the electricity saving of the national grid as well as protecting the country from environmental pollution by producing environmentally friendly green energy.”

“If initiative is taken to start our own power system by installing solar panels in the factory, the electricity of the country will be saved, and valuable foreign currency will also be saved,” she added.

She also demanded for a duty-free facility for importing raw materials for the partial exporters and simplified customs procedures with a view to ease of doing business in the country.