Bangladesh's Corporate World

The ceramic industry in the country is facing challenges like GSP suspension, high import duty on raw materials, and hike in gas tariff. But even than companies like Shinepukur Ceramics Limited, which is a member of Beximco Group and RAK Ceramics (Bangladesh) Ltd. are doing quite well. Beximco Group particularly played a major role in development of the sector. This industry faced a lot of changes for last some years but still it is developing day by day. The local ceramics industries can supply 78% of local demands and it is able supply 100% of demands. But this industry may face much difficulty due to high import duty of raw materials, hike in gas price hike. And if authorities reduce such duty, then ceramic industries will be able to fulfill the local demand of tiles. The country imports the raw materials for ceramic industries from India, Japan, Thailand, Vietnam, Germany and New Zealand. The ceramic companies in the country need to assume the proper market strategies in a bi...

The finance ministry said it would provide 10,000 electronic cash registers at purchase price to business including shops and restaurants in a bid to curb VAT dodging in retail sales. The authorities made the use of ECR mandatory 11 types of businesses in 2008. But the use of this ECR remains low due to lack of monitoring. The businesses could suppress the numbers and dodge the customer paid VAT if they do not use this device which keeps a data on sales. That’s why the shops without this device have tendency to sell goods at lower price than that of shops with ECRs.