Industry leaders in Bangladesh’s iron and steel sector have urged the interim government, led by Professor Dr. Muhammad Yunus, to streamline customs procedures and enhance port capacity. These steps are crucial for the smooth import of raw materials and machinery essential to the industry.
The call was made during a meeting of the Federation of Bangladesh Chambers of Commerce and Industry’s (FBCCI) standing committee on the iron and steel industry, chaired by SK Masudul Alam Masud, Managing Director of Shahriar Steel Mills Ltd. The meeting emphasized the need for stable and uninterrupted power and energy supply to support the industry.
FBCCI President Mahbubul Alam highlighted the industry's importance to the country’s economic development and urged entrepreneurs to collaborate in addressing existing challenges. He also pointed out that customs procedures are a significant obstacle for the industry and expressed hope that the new National Board of Revenue (NBR) Chairman would work towards simplifying trade regulations.
The meeting noted that Bangladesh’s per capita steel usage is 40 kilograms, much lower than India’s 90 kilograms. The country imports nearly all its steel, with annual imports of approximately 3 million tons, due to the absence of domestic iron ore mines.
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