Govt gives permission to set up 50 LPG plants to replace natural gas

The finance minister in his speech has said that the government has given permission to set up 50 plants of Liquid Petroleum Gas or LPG in an attempt to replace natural gas with the LPGs in vehicles and the households.

News Deskbdnews24.com
Published : 1 June 2017, 01:46 PM
Updated : 1 June 2017, 01:46 PM

Duties on the import of necessary machinery and equipment have been reduced.

Besides, the raw materials required to produce LPG cylinders have been given special tax expenditure, reducing the duties from 10 percent to 5 percent, said Finance Minister Muhith.

The minister also proposed extension of VAT exemption for LPG cylinder manufacturers at the production stage until Jun 30, 2019, considering the importance of the fuel and power sector for the industrialisation, and for keeping the price stable.