SBMA suggests levying duty on imported steel products
2020-06-18 11:59:37 [Print]
It is said that construction materials manufacturers in Bangladesh recently urged the government to levy duty on imported finished steel products to protect local iron and steel industry.
Previously, SBMA urged the government to revoke the proposal that allows foreign companies with plants in economic zones could import duty-free finished steel products.
SBMA president Rizvi said that the raw materials of the construction steel industry had suffered significant financial losses due to the COVID-19 pandemic as 95% of the industrial raw materials were imported from China. If the government doesn't change the situation, local iron and steel manufactures would be difficult to exist.
Previously, SBMA urged the government to revoke the proposal that allows foreign companies with plants in economic zones could import duty-free finished steel products.
SBMA president Rizvi said that the raw materials of the construction steel industry had suffered significant financial losses due to the COVID-19 pandemic as 95% of the industrial raw materials were imported from China. If the government doesn't change the situation, local iron and steel manufactures would be difficult to exist.
