Written by The Banking Post
The interim government has scrapped the 7.5 percent VAT on imports of oceangoing vessels above 5,000-deadweight tonnage (DWT), in a move aimed at strengthening the country’s seaborne trade.
The decision was announced after Thursday’s council of advisers meeting, where Chief Adviser’s Press Secretary Shafiqul Alam said, “The council feels this move will boost the seaborne trade of the country.”
Alongside the tax decision, the council reviewed the progress of reform measures introduced after last year’s political transition. Officials reported that 51 recommendations from the Reform Commission have already been implemented, with more underway.
The press secretary added that before the government hands over power, most of the proposed reforms would be in place. The Labour Ministry has also begun revising laws to align with 82 recommendations from the Labour Reform Commission, though some politically sensitive changes will be left for an elected government.
Local government reform was another key focus. The Chief Adviser stressed decentralisation and empowering local bodies to raise their own funds. Police reform also came under discussion, with plans to establish an “Independent Investigation Service” and an internal complaints commission.
Other issues included the peaceful Dhaka University Central Students’ Union (DUCSU) election, shortages of qualified teachers in medical colleges, and efforts to repatriate Bangladeshis stranded in Nepal following political unrest there.
“Discussions were held on how to bring back retired teachers to fill critical gaps in medical colleges,” Alam said, adding that the government is prioritising both education and institutional reforms alongside immediate trade facilitation.
