The government has decided to exempt the existing 7.5 per cent Value Added Tax on the import of sea-going vessels with a capacity of more than 5,000 Deadweight Tonnage (DWT).
The decision was taken at the weekly meeting of the Advisory Council held on Thursday at the Chief Adviser鈥檚 Office with chief adviser Professor Muhammad Yunus in the chair.
After the meeting, chief adviser鈥檚 press secretary Shafiqul Alam disclosed this at a press briefing at the Foreign Service Academy this afternoon.
鈥楾he Advisory Council believes that this tax exemption will facilitate vessel procurement in both the public and private sectors, open up new opportunities for foreign exchange earnings, and create employment,鈥� he said.
This is not just a measure for business convenience, but also a significant step to strengthen Bangladesh鈥檚 capacity in international trade, the press secretary added.
He said the meeting also discussed Bangladesh鈥檚 firm stance on the Palestine issue.
鈥榃e have always maintained a clear position on the Palestinian cause,鈥� Shafiqul Alam said, adding, Foreign Affairs Adviser Md Touhid Hossain will present Bangladesh鈥檚 position at the upcoming 鈥楿N High-Level International Conference on the Peaceful Settlement of the Question of Palestine鈥� in New York, and will also attend the OIC emergency meeting in Doha on September 15.
The progress of the Reform Commissions was also discussed in detail in the Advisory Council meeting, he said, adding, 鈥楽o far, 51 recommendations have been implemented, 37 are partially under process to be implemented and the remaining ones are under implementation. Some recommendations are political in nature and will have to be carried out by an elected government.鈥�
Noting that there is a misconception that reforms are not taking place, the press secretary said, 鈥業n fact, every ministry is undertaking significant reforms steadily. Banking, energy, revenue, labor - almost every sector has undergone reforms, and the process is ongoing.鈥�
About the progress of the reforms in the labor sector, Shafiqul Alam said, 鈥楳any of the 82 recommendations of the Labor Commission have already been implemented. Once the labor law is amended, most of the remaining recommendations will also be implemented. Our Ministry of Labor is working closely with the ILO.鈥�
鈥楲ast year鈥檚 18-point tripartite agreement was a major achievement, and under that agreement, the matter of wage increasing for workers has already been implemented.鈥�
Chief adviser鈥檚 deputy press secretary Abul Kalam Azad Majumder was present at the briefing.
