Bangladesh clinker imports to become more costly

While presenting his Budget Speech July 2012 to June 2013, Abul Maal Abdul Muhith, Minister for Finance, Government of Bangladesh has proposed that import duty on clinker to be imported by registered cement manufacturers will be increased from BDT350/t to BDT500/t. In addition, duty other cement clinker imports will rise from BDT 550/t to BDT750/t.

In FY11, Bangladesh imported US$446m worth of clinker compared to US$333m in FY 2010 - representing a growth of 34%. The country usually imports clinker from China, Indonesia, Thailand among other countries.

However on positive note, the Finance Minister said the Bangladesh government has set a GDP growth target of 7.2% for financial year 2012-13. The GDP growth rate will increase to 8% by financial year 2014-15.