Industrialists will have to pay more taxes and ensure labour welfare at their factories for being eligible to be selected as commercially important persons, officials said.
The industries ministry is going to amend the existing Commercially Important Person (Industry) Selection Guideline-2012 increasing the amount of tax and covering greater labour welfare issues as major selection criterion, they said.
‘We have already sought opinion from stakeholders on the draft of the amended guideline,’ industries ministry additional secretary Md Farhad Uddin told New Age on Sunday.
He said that a committee formed by the ministry to amend the guidelines recommended increasing the amount of taxes for being eligible to be selected as CIP (industry) by 50 per cent.
‘We also included the issues related to welfare of employees and workers in the draft amendment of the guideline as a condition for selecting CIPs as the government wants that industries should be compliant,’ he said.
Industrialists will have to ensure labour rights and welfare that will include complying with the labour related laws and regulations of the government, he said.
Industries ministry awarded CIP status to industrialists for their contributions in industrialisation, poverty reduction and economic growth through production, products marketing and employment generation.
Industries ministry usually selects 50 business persons as CIPs every year under six categories—large-scale industry, medium industry, small industry, micro and cottage industry, large, medium and small industry, service industry, micro and cottage industry through open competition while some CIPs are selected under ex-officio category.
CIPs to be selected have to fulfill the requirements of the guidelines.
After finalising the guidelines, the ministry will select the CIPs for the year 2014 based on the new guidelines, said Farhad who is also president of the CIP selection committee 2014.
According to the draft guidelines, the ministry will evaluate industrialists based on 10 criteria of their business ogranisations such as actual production, total investment, total profit, tax payment, manpower, social welfare actitivies, use of local raw materials in products, local and international standard, environment protection and waste management, research and development, innovation (for small and cottage industry) and employee and labour welfare.
According to the draft amendment, a businessman will have to pay Tk 3 lakh as income tax in previous fiscal year for being eligible to be selected as CIP under large scale industry, Tk 1.5 lakh under medium industry, Tk Tk 75,000 under small industry, Tk 60,000 under micro industry, Tk 15,000 under cottage industry and Tk 1.5 lakh under service industry.
According to the guidelines, loan, tax and utility bill defaulters will not be considered as CIPs.
The CIPs enjoy various facilities including permission to enter Bangladesh Secretariat, priority in reserving seats in Biman, train, bus and other modes of transport for business-related travels, availing of the letter of introduction from the foreign ministry to get visa easily in case of foreign tours and using the VIP Lounge-2 at the airport, priority in getting cabin facility at government hospitals and participation in different national programmes for one year.
-With New Age input
