For finished goods, the highest level of import duty in the budget was lowered from 30 percent to 25 percent introducing a three-tier duty structure to replace the previous four-tier one.

Also, the supplementary duty has been brought down to 35 percent from 75 percent for the finished goods.

On the other hand, the duty for raw materials was fixed at 7.5 percent while for intermediary goods 15 percent.

The Federation of Bangladesh Chambers of Commerce and Industry has asked all its member bodies to inform it about the impact of the restructured duty on the manufacturing and other local industries.

The apex business body also sought suggestions from the members to protect local industries on the competitive market.