BOGSOA seeks financial stimulus for oceangoing ships

Bangladesh Sangbad Sangstha . Dhaka | Published: 00:00, Apr 08,2019 | Updated: 23:27, Apr 07,2019

 
 

Bangladesh Oceangoing Ship Owners’ Association (BOGSOA) on Sunday sought financial stimulus and other facilities enjoyed by export oriented industries.
The BOGSOA leaders said that the oceangoing ship sector was declared as industry in 1994 but they were yet to receive financial and other facilities.
They raised the issue in a meeting with industries minister Nurul Majid Humayun at the ministry office.
They sought the intervention of the minister for deduction of tax at source, UDF loan and packing loan along with the financial stimulation.
In the meeting, problems and potentialities of Bangladesh-flagged oceangoing vessel industry was discussed.
Mentioning that over 90 per cent of the freight charges regarding import was being taken away by the foreign owners, the BOGSOA leaders said it was possible to save at least $ 2.5 billion annually through providing income tax and a few other facilities to the local maritime freight owners.
They said National Board of Revenue (NBR) had imposed 5 per cent advanced income tax on ship import which was affecting the entrepreneurs of the sector.
The BOGSOA leaders drew the attention of the industries minister to minimise the exiting tax and other disparities.
Appreciating the contribution of the oceangoing vessel industry, the industries minister said they would forward recommendations to the NBR after scrutinising their demands.
He also assured the BOGSOA leaders of continuing the government support to them and other local industries.
Industries secretary Md Abdul Halim, BOGSOA president Azam J Chowdhury, vice-presidents Mostafa Kamal and Sheikh Bashir Uddin, secretary general Rear Admiral (retd) ASM Abdul Baten and member Md Shahjahan were present in the meeting.

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