Transit fees as per WTO policy: Muhith
Transit fees will be fixed as per the World Trade Organization (WTO) policy, finance minister AMA Muhith said yesterday.
We discussed transit fees during the visit of the Indian prime minister to Bangladesh. The two countries will now finalise the fees, Muhith told reporters, after a meeting with Bangladesh Tyre Tube Manufacturers and Exporters Association (BTTMEA), at the secretariat.
Transit fees will be fixed as per WTO policy, with infrastructure development costs added added as a part of the fee. For example, roads between Bangladesh and Bhutan will have to be developed. Power transmission lines should be set up there, at an added cost. A fee will be added to these infrastructure costs, Muhith said.
At the same time, the countries concerned should develop their infrastructure, for smooth transit, he added.
Referring to the tariff commissions report on transit in 2010, the finance minister said, In principle, the report is correct, but the calculation is absurd.
When asked whether Bangladeshs Chittagong and Mongla ports are ready to be used for transit purposes, Muhith said, The Chittagong port is already being used, and development of the Mongla port is moving along. Mongla port is being developed only for coal import purposes. However, it will take a year to commence development work.
Regarding the meeting with BTTMEA, the finance minister said supplementary taxes on imported tyres will remain in-force.
At present, tyre producers are paying 5 per cent tax on imported raw materials, while a 25 per cent tax and a 5 per cent supplementary tax remain in-force for 16-inch-rim size tyres used for light vehicles, Muhith said.
