Budget 2026–27: Business Leaders Demand Incentives for Elevator Sector

Dhaka, Bangladesh || Monday, 27 April 2026 || 14 Boishakh 1433

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Budget 2026–27: Business Leaders Demand Incentives for Elevator Sector

Peoples Time Desk

Published : Monday, 27 April, 2026 at 12:58 AM, Update: 27.04.2026 1:21:16 AM, Count : 34

Budget 2026–27: Business Leaders Demand Incentives for Elevator Sector

Ahead of the national budget for 2026–27, business leaders have called for incentives, tax reforms, and policy stability in the elevator sector. These demands were raised at a roundtable discussion titled “National Budget 2026–27: Expectations of Business Community.”

The discussion was organized by the Industrialists and Businessmen Welfare Foundation (IBWF) at the National Press Club on Saturday, with participation from leading economists, business figures, and policymakers.

Former NBR Chairman Dr. Mohammad Abdul Mazid attended as the chief guest. He emphasized that a realistic, timely, and business-friendly budget is essential to ensure sustainable economic growth, increased investment, and job creation.

The session was chaired by IBWF President Mohammad Shahidul Islam.

As a special guest, Md. Shafiul Alam Uzzwal, President of the Bangladesh Elevator, Escalators and Lift Importers Association (BEELIA), presented several key proposals to the National Board of Revenue (NBR) regarding the elevator sector.

The proposals included reclassifying elevators as essential capital machinery, reducing the load factor rate per kilogram from $3 to $1.50, ensuring transparency in declaring imported raw materials for local production, and minimizing tax disparities between locally manufactured and fully imported elevators.

Additional recommendations included simplifying port clearing procedures, bringing so-called “briefcase companies” under the tax net, and reviewing the import tax structure every five years instead of annually to ensure policy stability.

Speakers highlighted that the elevator sector is directly linked to infrastructure development. Proper policy support and incentives could boost local industry growth and attract further investment.

In conclusion, BELIA expressed its commitment to working closely with the government to develop alternative growth strategies for this import-dependent sector, establish safety and standard regulations, and create an effective regulatory authority.

Other speakers included former NBR member Md. Nasir Uddin, REHAB Senior Vice President Abdur Razzak, FBCCI Reform Council Chairman Atikur Rahman, Secretary General of Bangladesh Association of Pharmaceutical Industries Halimuzzaman, and representatives from BKMEA, BGMEA, and other business organizations.

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