02/02/2014

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BANGLADESH: Plastic goods makers seek govt. support to recover losses due to political unrest

They mentioned that the plastic industry sustained losses to the tune of nearly Tk 40 billion during the last three months following political unrest.

The small and medium factories are in more vulnerable situation. The overall shipment hampered severely following the political unrest.  

The plastic goods makers also demanded reduction of tax at source from 0.8 % to 0.3 % so that they can recover from the present position.   

The 9th international plastic goods and machineries fair will be held under joint initiative by the BPGMEA (Bangladesh Plastic Goods Manufacturers & Exporters Assn.) and Chan Chao International, Co ltd in Taiwan. The fair will be held at the Bangabandhu International Conference Centre (BICC).

BPGMEA president Jashim Uddin said the industry needs government support to recover their losses.

As small industry government should give more attention to it, he said. Small and medium factories need government support as many of those are unable to pay bank loan in time, he said.

He sought incentives as they cannot tap the US market potentialities following the suspension of Generalized System of Preferences (GSP) by the importing country.

The BPGMEA president termed the suspension of GSP facilities an unjust decision by the US government as the manufacturers of plastic and other products who exported to the US have no fault.

Source: Daily "The Financial Express", Dhaka; 29 Jan 2014
(Syed Rashid Ali, Karachi, Pakistan)

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