Dhaka, Feb. 1 -- Local investors in the country's paint industry are deeply perturbed at the recent tax hike, fearing significant disruptions to their business plans midway through the year.

They have urged the government to reconsider the decision of the hike emphasising the need for support amid the current political and economic turmoil.

The National Board of Revenue (NBR) has recently raised the supplementary duty (SD) by 10 per cent on the import of raw materials and by 5.0 per cent on the supply stage of paint products.

This policy shift has alarmed local paint manufacturers, who warn of potential business losses, factory closures, and subsequent layoffs, exacerbating unemployment in the sector.

Md Mohsin Habib Chowdhury, presid...