plastic products
Plastic products’ virtual expo continues
The leading exhibitors from 19 countries are displaying their innovative, efficient and cost-effective products at the four-day virtual International Plastics, Printing & Packaging Industry Fair (IPF).
Bangladesh Plastic Goods Manufacturers and Exporters Association (BPGMEA) and Yorkers Trade & Marketing Service Co are hosting the four-day fair that began on Monday (July 5, 2021).
Also read: Bangladesh booth steals limelight at Seoul Int'l Tourism Fair 2021
The expo titled ‘IPF Online Expo’ will end on July 8 with an event on the sidelines titled ‘Export-led Plastic Sector Development Policy: Opportunities and Challenges.”
BPGMEA President Shamim Ahmed, its adviser Manzur Ahmed, former senior secretary Shubhashish Bose, BPGMEA Vice President KM Iqbal Hossain, Managing Director of Luna Plastic Ind Ltd ASM Kamal Uddin and former BPGMEA President Ferdous Wahed will speak at the event.
Also read: Virtual IPF, DTG trade exhibitions in July, August
The organizers said the online expo is a good way for staying in touch with customers and partners worldwide, presenting products and innovations, networking from knowledge-sharing activities, and an important format for getting access to new contacts.
Plastic goods manufacturers demand withdrawal of VAT
Local manufacturers of plastic products have placed a 4-point list of demands including withdrawal of value added tax (VAT) on their purchase of raw materials to facilitate their business in the country.
Addressing a press conference, leaders of Bangladesh Plastic Goods Manufacturers and Exporters Association (BPGMEA) said the local plastic goods producers collect the used plastics from local sources as raw materials to manufacture their finished products which are used by people from all strata in rural and urban areas.
“But the VAT waiver was withdrawn in the 2017-18 financial year from the plastics goods which are mainly used as crockeries items by the poor and low income people. So, we demand the withdrawal of VAT for next five years to reduce the product cost,” said Shamim Ahmed, president of the BPGMEA, at the press conference at the organisation's office in the city on Monday.
He also sought withdrawal of 15 percent VAT from locally made plastic toys, provision for tax holidays, reducing the source tax to 0.25 percent and fixing corporate tax at 10 percent for all business sectors.
The BPGMEA also demanded raising the upper-limit of tax-free turnover to Tk 5 crore from the existing Tk 1.5 crore along with reducing the tax regime to 3 percent from existing 4 percent, and giving waiver to 3 percent advance income tax considering the Covid-19 situation.
Shamim Ahmed urged the government to allocate funds for plastic garbage recycling management saying that the country now produces 400 million metric tons of plastic goods which will reach 800 million metric tons by 2025.
“But there is no substantive initiative for management of the recycling of used plastic goods. It’s so important from a health safety point of view”, he said.
The BPGMEA leaders appreciated the government for taking measures in favor of business community to promote trade and business across the country.
Other leaders of the BPGMEA including vice president KM Iqbal Hossain, Kazi Anwarul Haque, former vice president ASM Kamal Uddin, Ferdows Wahid and Mosaddequr Rahman Nannu.
Stop polythene use, one-time plastic products within a year: HC
The High Court on Monday directed the government to take necessary steps to stop the use of polythene bags and one-time plastic products across the country, including the coastal region, within a year.