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Tax rebate sought for rising industries


Published : 09 Jun 2019 09:12 PM | Updated : 01 Sep 2020 03:19 PM

Industries Ministry has sent a set of recommendations to the National Board of Revenue (NBR) to provide tax rebate to the rising industries including leather, plastic and light engineering side by the RMG sector. Industries Ministry sources said the initiative has been taken to popularise the alternative sources of export so that dependence upon some particular sector comes down.

Industries Minister Nurul Majid Mahmud Humayun on Sunday said the government is working preferentially in building a developed Bangladesh through industrialization. "We will truely ensure One Stop Service for increasing local investment side by side the foreign investment and at the same time local investors will be provided facilities similar to the overseas investors", he added.

Minister also said the government has already implemented a good number of initiatives in favour of the businessmen and industrial entrepreneurs and it happened because of the government's positive attitude and business and industry friendly policy. "Country's private sector has been developing day by day, and Industries Ministry has been continuing to provide necessary policy support to private sector aiming at sustainable boom of the sector, and the move will keep going in future", Minister added.

Mentioning that the qualitative standard meant to reach the level of world class standard, Minister advised the manufacturers and exporters to ensure world class standard of their goods to help reach the export target. He said accreditation can play the role of an effective tool in this regard. Sources said, the Ministry has already formulated an IP policy and Policy for Informal Sector is also under consideration.