Editors propose withdrawal of newsprint import duty
Skip to main content
  • Home
  • Economy
  • Stocks
  • Analysis
  • World+Biz
  • Sports
  • Splash
  • Features
  • Videos
  • Long Read
  • Games
  • Epaper
  • More
    • COVID-19
    • Bangladesh
    • Infograph
    • Interviews
    • Offbeat
    • Thoughts
    • Podcast
    • Quiz
    • Tech
    • Subscribe
    • Archive
    • Trial By Trivia
    • Magazine
    • Supplement
  • বাংলা
The Business Standard
MONDAY, MAY 23, 2022
MONDAY, MAY 23, 2022
  • Home
  • Economy
  • Stocks
  • Analysis
  • World+Biz
  • Sports
  • Splash
  • Features
  • Videos
  • Long Read
  • Games
  • Epaper
  • More
    • COVID-19
    • Bangladesh
    • Infograph
    • Interviews
    • Offbeat
    • Thoughts
    • Podcast
    • Quiz
    • Tech
    • Subscribe
    • Archive
    • Trial By Trivia
    • Magazine
    • Supplement
  • বাংলা
Editors propose withdrawal of newsprint import duty

Industry

TBS Report
15 April, 2021, 08:40 pm
Last modified: 15 April, 2021, 08:45 pm

Related News

  • Why media releases matter for businesses
  • NOAB’s new executive committee holds first meeting
  • Noab demands removal of irrational taxes, duties, and VAT from newspaper industry
  • Schism among journalists, a big failure of the community
  • FBCCI-NOAB meeting: Newspapers seek assistance to survive

Editors propose withdrawal of newsprint import duty

Newspaper editors and high officials of various television channels took part in a pre-budget discussion with Finance Minister AHM Mustafa Kamal on Thursday

TBS Report
15 April, 2021, 08:40 pm
Last modified: 15 April, 2021, 08:45 pm
Photo: Collected
Photo: Collected

The print and electronic media of the country have proposed that the government withdraw the existing import duty on newsprint and reduce the corporate tax imposed on newspapers and television channels in the budget for the forthcoming fiscal 2021-22.

Newspaper editors and high officials of various television channels made the recommendations in a pre-budget discussion with Finance Minister AHM Mustafa Kamal on Thursday.

In a press briefing after the virtual meeting, the finance minister said he would sincerely review the recommendations put forward by the media and try to meet them in the next budget.

Newsprint – one of the major raw materials in the newspaper industry – is subject to 5% import duty. The newspaper industry as a whole has to pay 32.5% tax.

The Newspaper Owners' Association of Bangladesh (Noab) in its budget proposal demanded that the import duty be withdrawn and corporate tax be reduced to 12% like that in the ready-made garment industry.

The finance minister said the editors also proposed to ensure food security, provide incentives to attract educated youths to the agriculture sector and popularise rooftop gardening in the urban areas.

They also suggested taking special initiatives to improve the quality of education in the universities, he said, adding some of the editors suggested making more efforts to stop waste of money in development projects.

Asked by reporters about the food situation in the country, the finance minister said incentives would be provided in the budget so that educated people could be involved in agriculture. "We will also support those who want to shift from conventional agriculture to modern agriculture. The government will do everything necessary to strengthen agriculture."

Regarding the spike in rice prices and the food crisis, he said, "Although Bangladesh claims to be self-sufficient in food, it basically depends on the behaviour of nature. In a year when nature is normal, this claim proves right."

He further explained, "If all the land in the country can be cultivated with full efficiency, then it will be possible to become self-sufficient in agriculture. But if that cannot be done for any reason, the self-sufficiency does not sustain. Boro cultivation in the country suffered last year."

"India, Cambodia and Thailand – all have deficits, more or less. Due to the effect of the coronavirus, farmers in no country were able to do agricultural work properly. Therefore, prices have gone up, as the supply in the international market has also decreased. If the supply is right, prices will come down."

According to the public relations wing of the Ministry of Finance, the virtual meeting was attended by The Daily Star Editor Mahfuz Anam, Bangladesh Pratidin Editor Naem Nizam, Bangladesh Television Director General Sohrab Hossain and Channel-i Director Shykh Siraj.

Besides, Finance Secretary Abdur Rouf Talukder, Financial Institutions Secretary Asadul Islam, NBR Chairman Abu Hena Rahmatul Munim and Bangladesh Bank Governor Fazle Kabir also participated in the meeting.

Bangladesh / Economy

Noab / Newspaper industry

Comments

While most comments will be posted if they are on-topic and not abusive, moderation decisions are subjective. Published comments are readers’ own views and The Business Standard does not endorse any of the readers’ comments.

Top Stories

  • BPC hunts for dollar to import fuel oil
    BPC hunts for dollar to import fuel oil
  • Representational Image. Photo: Mumit M/TBS
    Govt to list products to suspend imports amid dollar crisis
  • Infographic: TBS
    With 2 months left, 45% ADP fund still unspent 

MOST VIEWED

  • VAT on sales of locally-produced APIs likely to go from FY23
    VAT on sales of locally-produced APIs likely to go from FY23
  • Photo: Collected
    Spanish recycled cotton producer opens new facility in Bangladesh
  • Ice cream business thrives on Eid sales, warm weather
    Ice cream business thrives on Eid sales, warm weather
  • Milk: Pricier at retail level, yet farmers deprived of fair price
    Milk: Pricier at retail level, yet farmers deprived of fair price
  • Infographic: TBS
    Bakery business: Out of the frying pan into the fire
  • The story of Bangladesh becoming a major bicycle exporter
    The story of Bangladesh becoming a major bicycle exporter

Related News

  • Why media releases matter for businesses
  • NOAB’s new executive committee holds first meeting
  • Noab demands removal of irrational taxes, duties, and VAT from newspaper industry
  • Schism among journalists, a big failure of the community
  • FBCCI-NOAB meeting: Newspapers seek assistance to survive

Features

Why everybody wants to be like TikTok

Why everybody wants to be like TikTok

13h | Panorama
Illustration: TBS

How the ban on porn sites spawned a local cybersex industry

16h | Panorama
3 best affordable sunscreens for all

3 best affordable sunscreens for all

16h | Mode
Warah uses three types of khadi material: a sheer and light one, a medium count and a thicker one.

Warah: Embroidered with culture and womanhood

19h | Mode

More Videos from TBS

Investors, public to suffer from electricity price hike

Investors, public to suffer from electricity price hike

6h | Videos
Health benefits of summer fruits

Health benefits of summer fruits

7h | Videos
The way Bangladesh saves almost extinct fish

The way Bangladesh saves almost extinct fish

7h | Videos
Padma’s Char now largest grazing-ground

Padma’s Char now largest grazing-ground

8h | Videos

Most Read

1
Tk100 for bike, Tk2,400 for bus to cross Padma Bridge
Bangladesh

Tk100 for bike, Tk2,400 for bus to cross Padma Bridge

2
A packet of US five-dollar bills is inspected at the Bureau of Engraving and Printing in Washington March 26, 2015. REUTERS/Gary Cameron
Banking

Dollar hits Tk100 mark in open market

3
PK Halder: How a scamster rose from humble beginnings to a Tk11,000cr empire
Crime

PK Halder: How a scamster rose from humble beginnings to a Tk11,000cr empire

4
Bangladesh at risk of losing ownership of Banglar Samriddhi
Bangladesh

Bangladesh at risk of losing ownership of Banglar Samriddhi

5
BSEC launches probe against Abul Khayer Hero and allies
Stocks

BSEC launches probe against Abul Khayer Hero and allies

6
The story of Bangladesh becoming a major bicycle exporter
Industry

The story of Bangladesh becoming a major bicycle exporter

The Business Standard
Top
  • Home
  • Entertainment
  • Sports
  • About Us
  • Bangladesh
  • International
  • Privacy Policy
  • Comment Policy
  • Contact Us
  • Economy
  • Sitemap
  • RSS

Contact Us

The Business Standard

Main Office -4/A, Eskaton Garden, Dhaka- 1000

Phone: +8801847 416158 - 59

Send Opinion articles to - oped.tbs@gmail.com

For advertisement- sales@tbsnews.net

Copyright © 2022 THE BUSINESS STANDARD All rights reserved. Technical Partner: RSI Lab