DE Online Desk
In a significant move, traders at Sylhet’s Tamabil Land Port ceased importing stones from India starting Monday. This decision came as a direct response to the recent increase in customs duty on stone imports.
During a meeting at the port, traders collectively decided to suspend imports. This action follows a notification from the Tamabil land port authority, under the Bangladesh Customs Department, mandating a rise in customs duty from $12 to $13 per tonne of stone, effective January 8. This increment represents an additional cost of Tk 50 per tonne for the traders.
‘The imposition of higher customs duty compels us to halt imports. It’s simply not viable anymore,’ said Liakat Ali, president of Tamabil Limestone and Coal Importer Group. ‘This increase leads to substantial losses, and we demand a retraction of this duty hike.’
As a consequence of this increased tariff, several importers have already ceased their import and export activities between the two countries. The National Board of Revenue’s decision to raise the duty on each tonne of imported stone and limestone is seen as a significant financial burden by the traders.
The Sylhet Customs, Excise and VAT Commissionerate, following directives from the NBR, issued a letter on January 4, confirming the increased customs duty on boulders, stone chips and limestone from India. The new tariffs, affecting all ports and customs stations in the Sylhet region, including Tamabil, have been in effect since January 8.
This suspension of stone imports at Tamabil Land Port is expected to have a considerable impact on the local construction industry.
DE Online Desk