Private-sector construction in Bangladesh has significantly slowed due to considerable financial losses impacting various industries, including housing, cement, steel, sand, ceramics and hardware. Stakeholders have urged the National Board of Revenue (NBR) to implement urgent measures to support over a 100 businesses directly tied to the sector. These concerns were voiced during a recent pre-budget discussion for FY25-26 in Dhaka, as reported in local media.
The Bangladesh Cement Manufacturers Association (BCMEA) and the Bangladesh Steel Manufacturers Association (BSMA) have called for a reduction in customs duties and taxes to revitalise the sector. In the last budget, the customs duty on clinker was increased from BDT500/t to BDT700/t (US$4.11-5.80/t), representing 15 per cent of the import value. BCMEA argues that this increase has led to higher cement prices and slowed down construction. They are requesting a reduction to BDT200.
NBR Chairman, Md Abdur Rahman Khan, assured stakeholders that their concerns would be reviewed and directed officials to take necessary steps to address legitimate issues.
by Abdul Rab Siddiqi, Pakistan
