UNB, Dhaka

The government has decided to waive the 7.5 percent VAT on imports of ocean-going vessels over 5,000 deadweight tonnage (DWT) in a bid to boost foreign exchange earnings and create more job opportunities.

The Advisory Council took the decision at its weekly meeting held at the Chief Adviser’s Office with Chief Adviser Prof Muhammad Yunus in the chair.

The council believes that exemption will encourage vessel procurement in both the public and private sectors, expand opportunities for foreign exchange earnings and generate new jobs, said Chief Adviser’s Press Secretary Shafiqul Alam while briefing reporters at the Foreign Service Academy.

“This is not just a measure for business convenience, but also a significant step toward strengthening Bangladesh’s capacity in international trade,” Alam said.

The meeting also discussed Bangladesh’s firm stance on the Palestine issue.

“We have always maintained a clear position on the Palestinian cause,” Alam said, adding that Foreign Affairs Adviser Md Touhid Hossain will present Bangladesh’s position at the upcoming UN High-Level International Conference on the Peaceful Settlement of the Question of Palestine in New York.

The adviser will also attend the OIC Emergency Meeting in Doha on September 15, said Alam.

Progress made by the Reform Commissions was one of the issues that came up for discussion.

Alam said 51 recommendations have already been implemented, while 37 are partially implemented and the remaining ones are under progress.