The New Nation - Internet Edition

ECONOMIC REPORTER

Bangladesh Jute Mills Association (BJMA) yesterday demanded enhancement of subsidy up to 15 per cent from the existing 7.50 per cent for export of jute and jute goods as some 3.50 crore people are directly involved in this labour intensive sector.

The BJMA leaders also urged the government to reopen all the closed jute mills and reduce rate of interest, waive the outstanding cumulative interest and ensure uninterrupted supply of electricity.

The leaders demanded of the government to take initiative to offload the maximum shares of jute mills to the capital market.

They also demanded to withdraw the existing 5 per cent source tax on export subsidy.

Though in the proposed budget there was no mention of about the subsidy against the export of the jute-manufactured goods, the BJMA thanked the government for proposing the continuation of subsidy in export in the budget and hope they would fulfil their demands.

Referring to the proposed national budget of 2008-09, the BJMA hailed the proposals of withdrawing the existing turnover tax, reducing duty to 3 per cent from the existing 5 per cent on import of capital machinery and spare parts, forming the Better Business Forum, suspension of submitting indemnity bond, maintain tax holiday etc in the budget.