Garment accessories and packaging industries deprived

Despite the announcement of the business budget for the coming 2021-22 financial year, the garment accessories and packaging industry, which is 100 percent export-oriented, has been deprived of its desired achievement. The Bangladesh Garment Accessories and Packaging Manufacturers and Exporters Association (BGAPMEA) made such remarks in response to the budget.

According to BGAPMEA, this is a 100% export oriented sector. Although the National Export Policy, Textile Policy and Industrial Policy provided for equal opportunities for direct and indirect exporters, the sector never got equal opportunities.

According to BGAPMEA, the budget has proposed to fix corporate tax at 10-12 percent like other export sectors, but in the announced budget it has been reduced from 32.5 per cent to 30 percent. In order to overcome the current financial crisis, the organization has applied for a revised circular to fix the corporate tax at 12 percent for green factories and 15 percent for other factories. Besides, they also applied for notification by setting the excise duty at 0.50 percent to zero point 25 percent.

Sunbd/NJ