Domestic cigarette industry is a victim of discrimination.
The National Board of Revenue (NBR) has imposed a tax burden on domestic cigarette companies. In the middle of the financial year, the tax burden on cigarettes of foreign companies was increased by 2 percent, but on domestic companies by 12 percent. The tax increase has been purposeful and discriminatory. As a result, domestic companies will close.
These allegations were made at a press conference of the National Cigarette Manufacturers Association at a hotel in the capital today, Sunday. The organization’s general secretary Nazmun Nahar Lucky read out a written statement at the press conference.
The press conference said that 100 percent domestic companies are becoming more sick due to the autocratic attitude of multinational companies, monopolistic trade policies and monopolistic dominance of government bureaucrats. The decision taken in the 2018-19 financial year not to approve foreign brands at the lower levels has been disrupted due to the aggression and conspiracy of multinational companies allied with the East India Company.
It further stated that where BAT used to make a profit of Tk 200 crore 10 years ago, it has now stood at Tk 200 billion. Tk 1,700 crore is going abroad as part of dividends from foreign-owned shares.
On the other hand, the profits of domestic companies remain in the country. They are creating employment in the country. However, due to the monopoly of foreign companies in the last 10 years, domestic companies have been wiped out and their businesses are on the verge of closure.
Nazmun Nahar Lucky said, “The supplementary duty on cigarettes manufactured by foreign companies has been increased by a nominal 2 percent. On the other hand, the duty on low-quality cigarettes of struggling domestic entrepreneurs has been increased by about 12 percent in one fiscal year. This is a gross discrimination and a suicidal decision. One million people, including farmers, factory workers and marketing staff, are earning a living from this industry. The domestic industry will be destroyed due to the unprecedented discriminatory tax policy.
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