Remove barriers to pipe and tube-well industry

Young entrepreneurs in the pipe and tube-well industry of Bangladesh have urged the interim government to address bottlenecks that are hindering their investments and operations.

They made this plea at a "views exchange for facilitating business among youths", organised by the Bangladesh Pipe and Tube-Well Merchants Association at Dhaka Club in the capital on Monday.

The event provided a platform for young entrepreneurs in the pipe and tube-well industry to express concerns and propose solutions for their problems and challenges.

The entrepreneurs highlighted tax complexities, tariff barriers and port demurrage costs as major barriers for fostering a conducive business environment.

However, they expressed optimism about continuing to do business if the government addresses these issues. The pipe and tube-well industry has changed significantly in recent years as many highly educated youths have taken over their family businesses in the sector.

Muhammad Abdul Mazid, chairman of the Social Development Foundation and a member of the National Board of Revenue's (NBR's) advisory committee, attended the programme as chief guest.

Assuring that he would convey their recommendations to the interim government, Mazid encouraged the participants to make formal proposals and thereby facilitate discussions with policymakers.

Mazid, also a former chairman of the NBR, commended the new generation of entrepreneurs for contributing to the national economy rather than seeking opportunities abroad.

Highlighting their potential to drive transformation in the pipe and tube-well industry, he urged the government to support their efforts by improving the business climate.

Solaiman Parsee, a prominent businessman in the pipe and tube-well industry, emphasised several challenges that discourage young entrepreneurs from continuing their ventures in the sector.

Parsee also called for separate tax policies for large and medium enterprises to prevent big corporations from overpowering small traders.

The event stressed the need for policy reforms to inspire and retain young entrepreneurs in Bangladesh, which would pave the way for sustainable business and economic growth in the country.

Md Mamun, a former commissioner of Dhaka South City Corporation, was present as the special guest.