Budget 2026–27: Strong Demand to Declare Elevator Sector as Capital Machinery

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Budget 2026–27: Strong Demand to Declare Elevator Sector as Capital Machinery

Peoples Time Desk

Published : Wednesday, 29 April, 2026 at 2:45 PM, Update: 29.04.2026 3:49:59 PM, Count : 87

Budget 2026–27: Strong Demand to Declare Elevator Sector as Capital Machinery

Ahead of the upcoming national budget for the fiscal year 2026–27, the Bangladesh Elevator, Escalator and Lift Importers Association (BEELIA) has formally submitted a letter to the National Board of Revenue (NBR), demanding that the elevator (lift) sector be included as capital machinery.

Earlier, on Monday (April 27), at a pre-budget discussion meeting held at the NBR office, BEELIA representative Emdadur Rahman presented a written proposal outlining the same demand along with a 7-point recommendation. The meeting was chaired by NBR Chairman Abdur Rahman Khan.

In a letter signed by BEELIA President Shafiul Alam Uzzwal and General Secretary Eadul Haque, it was stated that in the context of rapid urbanization, high-rise building construction, and industrialization in the country, elevators are no longer a luxury item but an essential component of infrastructure. Therefore, it is necessary to include lifts and their components under essential capital machinery.

The association stated that the current high import duties and tax structure on elevators are creating obstacles for business operations and increasing construction costs, which ultimately has a negative impact on the overall economy.

According to BEELIA, elevators are long-term investment assets with a lifespan of 25 to 30 years. They play a crucial role in maintaining operations in industries, hospitals, shopping malls, and commercial establishments, thereby enhancing productivity.

In the letter, the organization proposed seven key recommendations, including:

– Inclusion of elevators as capital machinery

– Reduction of load factor rates

– Ensuring transparency in the declaration of imported raw materials for local production

– Eliminating tax discrimination

– Simplifying port clearing processes

– Bringing so-called “briefcase companies” under the tax net

– Reviewing import tax structures every five years instead of annually

BEELIA also highlighted that although demand for elevators is increasing due to rapid urbanization, the country still lacks adequate quality control systems and modern testing facilities for local production. To mitigate safety risks, the association emphasized the need for international standards, establishment of testing towers, and formation of a strong regulatory authority.

The organization further expressed its commitment to working in coordination with the government to develop the sector, ensure safety, and formulate an effective policy framework.

Stakeholders believe that, to sustain infrastructure development and industrial expansion in Bangladesh, it is now essential to classify the elevator sector under capital machinery.

Notably, the elevator industry is a vital component of infrastructure in the production, storage, and logistics of goods and services. With the country’s ongoing development, building advanced and well-planned infrastructure has become increasingly important for future industrial growth.

There is no alternative to elevators in multi-story industrial buildings, warehouses, and storage facilities. Elevators play a crucial role in transporting raw materials, finished goods, and workers within industrial establishments. Therefore, to ensure an effective and modern industrial infrastructure, the installation of quality elevators is indispensable.

In light of these realities, it is imperative to include the elevator sector under the capital machinery category.

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