Industry Minister’s assurance to set up jewelery industry

Staff Reporter, Dhaka, 17 January 2024)  Industries Minister Nurul Majid Mahmud Humayun, MP has assured the allotment of land for setting up a jewelery industry factory in Bangladesh Small and Cottage Industries Corporation (BSCIC) Industrial City.He said, a new BSCIC industrial city has been built one hour away from Dhaka. The industrial factories in Tatibazar, They can go there.

He said these things during a meeting with a delegation led by Mr. Ripnul Hasan, Vice President of Bangladesh Jewelers Association (BAJUS).  Zakia Sultana, senior secretary of the Ministry of Industry, was present on the occasion.

In the meeting, BAJUS made eight proposals. Including jewelery industry as a priority sector.  Exemption of customs duty on import of gold refineries, machinery used in jewelery industry for the purpose of setting up new industrial plants, Establishment of jewelery industry factories in Special Economic Zones, Allotment of land on priority basis, Establishment of Gold Testing Lab and Hallmark Center in every district of the country under the supervision of BAJUS and BSTI to ensure quality of gold and consumer rights. Setting up of modern diamond testing labs in all districts of the country under the supervision of BAJUS and BSTI to improve quality of diamonds and prevent consumer fraud. Formation of a joint monitoring cell comprising BAJUS and BSTI for regular monitoring of the correctness of the reports of all the gold testing labs and hallmark centers currently established. In view of this, Industry Minister Nurul Majid Mahmud Humayun said, we will take a timely plan.

Because we want to go to the world market quickly, We want to export and provide employment. Our government is a business friendly government.

Regarding tax VAT, he said, as the jewelery industry is import dependent, we will talk to the National Board of Revenue regarding VAT, taxes. As it is a competitive market, we have ample potential as there are other countries including India.

he also said,  We have abailable labor, so jewelery can be made at very low cost. Which will help to compete in the global market. In this case, Bajus will be fully supported by the government.

Regular monitoring should be done jointly by BAJUS and BSTI so that no jeweler can illegally manipulate the weight. Besides, necessary arrangements will be made through discussions to install a gold testing machine of BSTI at the airport.


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