Demand for duty free and tax free import of textile raw materials

In the budget of the coming 2020-2021 financial year, three organizations in the textile sector have demanded to provide duty and tax free facilities for the import of all kinds of raw materials used in the textile sector. At the same time, they have proposed a value added tax of Tk 3 on all types of fiber yarns and a 1 percent import duty on all parts used in the textile and readymade garments sector, such as capital equipment. BGMEA and BKMEA, an association of garment industry owners, and BTMA, a backward linkage organization, have sent a letter to the finance minister in this regard.

Sunbd/NJ