Third terminal to open new horizon for overseas trade
The third terminal at the Hazrat Shahjalal International Airport (HSIA) will open a new horizon in handling and air shipment of goods as the new facility is expected to improve the capacity of the cargo village. Local exporters and importers are optimistic that the incidents of thefts will not take place anymore and freight charges will come down significantly as more airlines will operate a higher number of cargo flights, which will make the business competitive. As an important player in the global readymade garment supply chain, local apparel suppliers have to air-ship more than 800 tonnes of goods a day. The volume goes up to 1,200 tonnes during peak times. The space dedicated to export-bound cargoes in terminals 1 and 2 is 19,600 square metres and their combined annual handling capacity is two lakh tonnes. The new terminal has a space of 36,000 square metres set aside for exporters and the handling capacity is 5.46 lakh tonnes per year. Currently, an area of 13,700 square metres is dedicated to dealing with imported cargoes in the two terminals while the third one will add 27,000 square metres. The handling capacity of the first two terminals is 84,379 tonnes while the third terminal will boost the capacity by 2.73 lakh tonnes.
Private coal power plants to avail tax exemption till 2039
The National Board of Revenue (NBR) has relaxed rules to extend the income tax exemption facility to private coal-fired power producers by 15 years if they start electricity generation by June 30 next year. Earlier, the NBR offered the exemption to the producers that could begin producing electricity by June 30 this year. The extension comes following recommendations from the power, energy and mineral resources ministry as most of the power plants failed to go into production by the deadline, said a senior official of the NBR. Producers that signed agreements by June 30, 2020 to establish power plants will qualify for the tax waiver for 15 years from the start of the commercial operation. And the exemption can be enjoyed until June 30, 2039, according to a notification of the NBR issued on October 3. Installed capacity totalled 27,834 megawatts last month, more than five times higher than the 4,942 MWs in 2009.
Bepza Economic Zone: Three firms gear up for production
Three companies in the Bangladesh Export Processing Zone Authority (Bepza) Economic Zone, established in the Bangabandhu Sheikh Mujib Shilpa Nagar in Chattogram, are gearing up to initiate production this month. Fengqun Composite Material Co (BD) Ltd, a Chinese enterprise, is among the three firms poised to commence manufacturing operations. With an investment target of $2.2 million, the company will focus on producing a range of items, including shoe accessories and packaging materials such as duct tape, cartons, paperboard boxes, inner boxes, corrugated boxes, rigid boxes, foil sealed bags, and chipboard packing.