GPH Ispat has exported 120,000 metric tons of billets worth $71 million to China, the world’s top steel producer, through five shipments since November 18 last year.
Billet is the main raw material for rod production. China is currently leading the world in billet production. They alone control about half of the total market.
They said that they currently need to pay $60-$70 per ton to ship billets from
Bangladesh to China where Vietnam is paying only $20-$25 and India is paying $35-$40.
Apart from the shipping cost, the production cost is also much higher in Bangladesh than that of the neighbouring countries, they added.
The five advantages include special incentives for the involved entrepreneurs,
reduction of the price of electricity, uninterrupted supply of gas, bank guarantee facility, and priority to unload raw materials from the port to reduce additional transportation costs by waiting day after day.
“There are many obstacles in exporting billets. Even with that, we want to spread this product in the world market. However, in order to survive off our steel in the world market, the government has to give special incentives,”
Almas Shimul, director and additional MD of GPH Ispat said.
He also said that besides being self-sufficient in steel, the sector can also create employment for thousands of people in the country. Kamrul Islam, executive director of GPH said that they have to export per ton billets at three times the rent than Vietnam and twice that of India.
“Moreover, we have to pay Tk4,000-Tk5,000 for various
kinds of duties and taxes during the unloading of raw materials,” he added.
With this technology, it is now possible to produce 900-grade steel products in the country.
GPH is a capital-intensive industry, the value addition of the industry is locally more than 50%.
A grouping of the anti-establishment Pirate Party with the Mayors and Independents (STAN) movement scored 15%.
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He has denied any wrongdoing and slammed the allegations as a smear campaign.
Babis currently leads a minority government with the left-wing Social Democrats,
which was until recently tacitly backed by the Communist Party that ruled the former totalitarian Czechoslovakia from 1948 to 1989.
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It will be up to the pro-Russian President Milos Zeman, Babis’s old ally, to tap the new prime minister.
“He will do his best to keep ANO in power,” said Josef Mlejnek, an analyst at Charles University in Prague.
The “Pandora Papers” investigation involving some 600 journalists from media including