Finance Minister Abul Hassan Mahmood Ali has said the jewellery industry will get the highest support from the government for its overall development.

He said this at a meeting with Bangladesh Jeweller’s Association (BAJUS) leaders at his Dhanmondi residence in the capital on Monday.

The government would consider providing all kinds of policy support to open up new horizons in the export of gold ornaments, the minister said. “Besides, the Ministry of Finance will seriously consider all the problems and possibilities of the industry.”

Among others, BAJUS spokesperson and former president Dr Dilip Kumar Roy; vice-presidents Gulzar Ahmed, Md Reponul Hasan, Masudur Rahman, and Shamit Ghosh (Apu); Advisor Ruhul Amin Rasel; assistant secretaries Md Tazul Islam (Lavlu), Uttom Ghosh, Mostafa Kamal, Kazi Naznin Hossain, and Farida Hossain; and executive members Anwar Hossain, Pabitra Chandra Ghosh, and Md Ali Hossain attended the meeting.

The BAJUS leaders told the finance minister buyers are reluctant to pay the high VAT imposed on the jewellery sector. To encourage customers, the VAT on gold ornament sales needs to be reduced to 3% from 5%, they said.

To expand the jewellery industry, they demanded a 10-year tax holiday, including exemptions from all types of duty on imported raw materials and machinery. They also called for a 10-year tax holiday for the gold refining industry.

BDST: 1045 HRS, JAN 29, 2024
MN