Around a dozen local companies supplied materials such as rods, steel products and cement for the construction of the country's first metro rail, signifying that products made in the country are achieving international standards.
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Stress on tax reforms to boost investment in cement sector
Jannatul Islam
19th May, 2021 10:23:10
The government should reform the tax structure to boost investment in the cement sector as local manufacturers are burdened with taxes.
Some 37 companies including 5 foreign manufacturers are producing nine million tonnes of cement in Bangladesh against the annual domestic demand for 4 million tonnes, according to Bangladesh Cement Manufacturers Association (BCMA).
The cement manufacturers are now paying Tk 500 for importing each tonne of clinker, the main raw material for cement. Besides, 5 per cent customs duty and 3 per cent advance income tax put a huge burden on businesses to make new investments, BCMA leaders have said.