Home / Knowledge / News / Apparel/Garments / Garment Association Nepal reviews 2010-11 budget
Garment Association Nepal reviews 2010-11 budget
29
Nov '10
Garment Association Nepal (GAN) has expressed its anguish over the government's decision of not including its demands in the budget for the current fiscal. It placed several demands before the government like elimination of the 25 percent penalty on bank guarantee, raising the time limit for producing goods from 14 to 18 months from the date of importing the inputs, setting up a Special Economic Zone for apparel and to press for earning a duty-free access for Nepali garments in US markets.

However, GAN has given its approval for a few provisions of the current budget that are likely to aid the country's industrial growth.

GAN welcomed the assurance provided under the budget to boost the growth of private sector by way of creating investment friendly atmosphere in the country, and added that the incentives for industries with over 100 workers, health and security facilities for industries with over 500 workers and providing diesel to the manufacturing industries at subsidised rates are some of the constructive points of the budget.

Meanwhile, it even appreciated the budgetary provision of providing export industries with two to four percent of their overall foreign exchange earnings as cash incentives and also the provision of offering 25 percent tax rebate on their total earnings.

Fibre2fashion News Desk-India

Must ReadView All

Textiles | On 7th Dec 2016

New Texprocil chairman bats for increased UPI adoption

Ujwal Lahoti, the new Cotton Textile Export Promotion Council...

RBI Governor Urjit Patel addressing a press conference. Courtesy: Youtube

Textiles | On 7th Dec 2016

Defying expectations, RBI keeps repo rate unchanged

Defying market expectations, the Monetary Policy Committee (MPC) of...

The new OJ 59/1 B. Courtesy: Karl Mayer

Textiles | On 7th Dec 2016

Karl Mayer unveils new LACE.EXPRESS model for apparel

Germany’s leading textile machinery firm, Karl Mayer, has launched a...

Interviews View All

Karel Williams
Dow Microbial Control

'Silvadur is most rapidly adopted in areas where hygiene-conscious and...

Victor Chao
Esmetex

‘In future, clothing boundary lines will become increasingly blurred.’

Karan Toshniwal
Orange O Tec

Contemporary industry is paying more and more attention to the...

Kerem Durdag
Biovation II LLC

Kerem Durdag, CEO, Biovation II LLC, provides an insight into future...

Mark Paterson
Technical Absorbents Ltd

Mark Paterson, R&D manager of Technical Absorbents Ltd talks about Super...

Ashok Desai
Bombay Textile Research Association

Bombay Textile Research Association (BTRA) is a leading name in textile...

Wendell Rodricks
Wendell Rodricks

"We should not compare India and the West. There are things we do that...

Sonam & Paras Modi
SVA

Sonam and Paras Modi's Sva Couture is synonymous with head-turning...

Tony Ward
Tony Ward

"You have to truly understand what your client wants, know her needs, what ...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH
December 2016

December 2016

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

SUBSCRIBE


Browse Our Archives

GO


Advanced Search