DHAKA : The Bangladesh Plastic Goods Manufacturers and Exporters Association (BPGMEA) today demanded reducing the tariff rate on imported machinery, spare parts, and raw materials for the export-oriented plastic industry to 1 per cent – aligned with the existing benefits provided to the textile industry. The association made the demand during a press conference held today at the BPGMEA Conference Room in the city. In his speech, BPGMEA President Shamim Ahmed said the plastic industry is one of the country most promising sector. However, he said, the sector continues to fall short of its potential due to limited production efficiency and inadequate access to modern technology, according to a press release.
Tariff and VAT complexities associated with machinery imports are discouraging many businesses from upgrading their equipment, he added.
He further pointed out that the recent wave of business closures in the plastic sector has been primarily driven by the persistent power and energy crisis.
To help the industry recover and improve its global competitiveness, he urged the government to introduce a 1 per cent duty on imported machinery.
This initiative, he said, would not only help struggling enterprises bounce back but also enhance the country overall export performance.
