It is encouraging news that cement export is playing a significant role in our economy. The industry is now producing at surplus after meeting the local demand. However the double tax and advance tax besides some other costs are the main barriers for more solidified growth of the industry.
Bangladesh Cement Manufacturers Association (BCMA) now wants the government to intervene and make policy related changes to enhance the growth of this sector. If the government provides export incentives to the cement sector, it would play a key role in revenue earnings.
To sustain the growth of this sector, finding
new international markets and exemption
of export duty are the feasible
solution in front of us
Government’s policy provision is needed for further development of the sector. Export competitiveness in the foreign market will increase if sufficient incentive is given to exports without duty exemption. In addition, tariff barriers have to be removed from the various international markets for cement raw material imports.
Government, along with the country’s cement manufacturers, should also explore more and more methods and sources in the potential overseas markets, for the sake of sustainable growth of this sector. We know that the big development projects are currently underway and they have subsequently attracted increased investment in the cement sector. However, production has now outgrown the actual requirements and the surplus should be exported in an efficient manner.
Therefore, it all depends on how our manufacturers can find new avenues to access the potential foreign market. Ultimately there is no better alternative than to go for it. To sustain the growth of this sector, finding new international markets and exemption of export duty are the feasible solution in front of us.
