10:22 am, Friday, 7 February 2025

Steel sector businesses demand tariff simplification

  • Bizbd Report
  • Update Time : 08:43:49 pm, Saturday, 17 August 2024
  • 102

Business leaders and entrepreneurs on Saturday urged interim government chief Muhammad Yunus to take action to simplify tariff processes and enhance port capacity for importing raw materials and capital machinery crucial to the iron and steel industry.

This appeal was made during the standing committee meeting of the Federation of Bangladesh Chamber of Commerce and Industry (FBCCI) on the iron, carbon steel, stainless steel, and re-rolling industry, held at FBCCI’s Motijheel office in Dhaka.

SK Masudul Alam Masud, chairman of the standing committee and managing director of Shahriar Steel Mills Limited, presided over the meeting. FBCCI director Md Amir Hossain Noorani, who is the director-in-charge of the committee, was also present.

During the meeting, business leaders emphasized the need for urgent measures to ensure a consistent and high-quality supply of gas and electricity to all industries, including the iron and steel sector.

FBCCI President Mahbubul Alam, who attended the meeting virtually as the chief guest, highlighted the crucial role of the iron and steel industry in the country’s infrastructure development.

He urged businesspeople to come together to address the ongoing challenges facing the industry.

Mahbub also noted that tariff complications are a significant issue across all sectors, not just the steel industry.

He remarked on the persistent problem of imported goods being assessed at much higher values than their invoice prices at ports, calling for action to address this discrepancy.

Despite the challenges, Mahbub expressed optimism that the current National Board of Revenue (NBR) chairman would be committed to improving the business environment in the country.

Steel sector businesses demand tariff simplification

Update Time : 08:43:49 pm, Saturday, 17 August 2024

Business leaders and entrepreneurs on Saturday urged interim government chief Muhammad Yunus to take action to simplify tariff processes and enhance port capacity for importing raw materials and capital machinery crucial to the iron and steel industry.

This appeal was made during the standing committee meeting of the Federation of Bangladesh Chamber of Commerce and Industry (FBCCI) on the iron, carbon steel, stainless steel, and re-rolling industry, held at FBCCI’s Motijheel office in Dhaka.

SK Masudul Alam Masud, chairman of the standing committee and managing director of Shahriar Steel Mills Limited, presided over the meeting. FBCCI director Md Amir Hossain Noorani, who is the director-in-charge of the committee, was also present.

During the meeting, business leaders emphasized the need for urgent measures to ensure a consistent and high-quality supply of gas and electricity to all industries, including the iron and steel sector.

FBCCI President Mahbubul Alam, who attended the meeting virtually as the chief guest, highlighted the crucial role of the iron and steel industry in the country’s infrastructure development.

He urged businesspeople to come together to address the ongoing challenges facing the industry.

Mahbub also noted that tariff complications are a significant issue across all sectors, not just the steel industry.

He remarked on the persistent problem of imported goods being assessed at much higher values than their invoice prices at ports, calling for action to address this discrepancy.

Despite the challenges, Mahbub expressed optimism that the current National Board of Revenue (NBR) chairman would be committed to improving the business environment in the country.