FBCCI for removing tariff knots in steel raw material imports

Steel and iron industry leaders today demanded the removal of tariff complications in imports of raw materials and capital equipment.

At a meeting of the Federation of Bangladesh Chambers of Commerce & Industries (FBCCI) Standing Committee on Iron, Carbon Steel, Stainless Steel and Re-rolling Industries, they urged the interim government headed by Prof Muhammad Yunus to take necessary steps in this regard.

FBCCI President Mahbubul Alam, who took part in the meeting virtually as chief guest, stressed the importance of the iron and steel industry in developing the economy of the country.

Urging businessmen to unite and eliminate the existing crisis, he said, not only the steel industry, but all sectors saw the tariff process of imports as a big challenge.

"We have been hearing for a long time that the assessment value of imported goods at the port is much higher than the invoice value. We have to work in these places," he said.

FBCCI President Mahbubul Alam virtually joined the meeting as the chief guest. Photo: Courtesy

The FBCCI president also expressed hope that the current NBR chairman will be sincere in facilitating business in the country.

He started his speech by offering prayers for those who lost their lives in building a discrimination-free state.

At the event, FBCCI Senior Vice-President Md Amin Helaly said the chief adviser to the interim government was a man of international reputation and his brand value could be tapped into to enhance the image of Bangladesh abroad. 

Participating in the open discussion, the business leaders also spoke about the need to keep bank interest rates stable, reduce turnover tax and VAT, and remove complications related to HS Code.

They further urged urgent action to ensure an uninterrupted supply of quality and gas to all types of industries.

Chairman of the Standing Committee and Managing Director of Shahriar Steel Mills Limited Masudul Alam presided over the meeting.