Federation of Bangladesh Chamber of Commerce and Industries (FBCCI) stressed need to meet the major crises lies in the country's emerging Iron and Steel Industries referring that sector plays significant role in the economic development.
They also urged upon the interim government to take necessary steps to simplify the process of customs and increase port capacity in importing raw materials and capital equipment of iron and steel industry.
The remarks came up at the 1st meeting of FBCCI Standing Committee on Iron, Carbon Steel, Stainless Steel and Re-rolling Industries was held at FBCCI office in Motijheel, Dhaka on Saturday.
FBCCI President Mahbubul Alam joined the meeting virtually as the chief guest with the Chairman of the Standing Committee and Managing Director of Shahariar Steel Mills Ltd. SK. Masadul Alam Masud in the chair. FBCCI President said, ‘not only the steel industry, but also in all sectors, the tariff process of imported products is a big challenge.
"We have been hearing for a long time that the assessment value of imported goods at the port is much higher than the invoice value. We have to work in these places", he added. He also expressed optimism that the current NBR chairman will be sincere in facilitating business in the country.
Meanwhile, the business leaders stressed on urgent action to ensure quality and uninterrupted supply of gas and electricity to all types of industries including iron and steel industries.
It is reported that the annual per capita consumption of steel in the country is 40 kg. Neighboring India's annual per capita consumption of steel is around 90 kg. Due to the lack of iron ore mines in Bangladesh, almost 100% of the steel needs to be imported.
About 3 million metric tonnes of steel is imported into the country every year to meet the local
demand.
Among others, FBCCI Senior Vice President Md. Amin Helaly former First Vice President Mohammad Ali, Vice President Md. Munir Hossain, Director In-Charge of the Committee Md. Amir Hossain Noorani, FBCCI Director Hafez Hazi Harun-Or-Rashid, Alhaj Azizul Hoque, Md. Niaz Ali Chisty, Committee Co-Chairmen and members were present at the meeting.
