The New Nation - Internet Edition

Staff Reporter

Re-Rolling and Steel Millers yesterday urged the government to withdraw import duty, advance income tax and VAT on raw materials of iron rod temporarily to help bring down the soaring price of the item which have hit the housing sector.

They said they would not oppose if the government re-impose the tax and VAT once the price of iron materials in the international market decreased in the future.

They also calls for re-fixation of VAT at production and delivery stage to Tk 1,500, Tk 1,300 and Tk 2,600 from existing Tk 3,000, Tk 2,500 and Tk 5,000.

The Bangladesh Re-Rolling Mills Association and the Bangladesh Steel Mill Owners Association at a press conference in the city also pleads for withdrawal of import duty on generator of electricity. This will help reduce the demand of electricity, they said.

Blaming the pre-shipment companies (PSIs) for not doing their duties properly the millers urged the government to withdraw those from the process.

They pointed out that during the re-fixation of price of iron rod the joint force did not invite the Bangladesh Re-Rolling Mills Association and the Bangladesh Steel Mill Owners Association. They had not considered the price of raw materials and the production cost, they alleged.

On April 11, the joint force re-fixed price of 60-grade iron rod at Tk 62,000 and 40-grade iron rod at Tk 58,000 per ton.

Bangladesh Re-Rolling Mills Association General Secretary Sheikh Masadul Alam Masud and Bangladesh Steel Mill Owners Association Secretary General Fazlur Rahman Bakul spoke on the occasion.