Shipbuilders on Thursday sought working capital for longer period like readymade garment industry to turn the growing export- oriented shipbuilding
industry into a multi-billion dollar one in ten years.
‘As a ship needs two years to be completed, we need working capital for longer time in same terms and conditions being given to RMG industry,’ Association of Export Oriented Shipbuilding Industries of Bangladesh president Abdullahel Bari told a meeting with finance minister AMA Muhith at the latter’s secretariat office in the city.
Khan Brothers Shipbuilding chairman M EnamulKabir Khan and Karnaphuli Shipyard managing director MA Rashid were also present at the meeting.
Bari said garment makers need rolling period of 120 days but shipbuilders need two years for a ship to be classified.
Putting forward a set of recommendations before the finance minister, he said any ship with capacity of 3000 dead weight tonnage (need not pay any tax and the same facility should be given for building ships locally.
‘We want a ban on import of old ships that Bangladesh can build for export,’ said Bari, also chairman of Ananda Shipyard and Shipways.
‘We import 40 per cent raw materials and save 60 per cent foreign currency by producing shipbuilding materials locally,’ he said.
The AEOSIB president said shipbuilders need zero duty on import of all kinds of raw materials.
Enamul Kabir Khan said, ‘If we can develop our shipbuilding industry we shall be making ships for sea transport, which will help save huge freight charges being taken by foreign companies,’ he added.
‘Allow the shipbuilding industry for 10 years until it is turned into a multi-billion dollar one and after that do whatever you want,’ he said.
The finance minister gave them a patient hearing and said their recommendations would be taken into consideration actively as the coming financial year approaches.
-With New Age input
