Home / Knowledge / News / Apparel/Garments / BGMEA demands duty-free import of machinery
BGMEA demands duty-free import of machinery
07
May '11
The Bangladesh Garment Manufacturers and Exporters Association (BGMEA) has demanded of the government to reduce the import duty on machinery and spare parts and to extend the bonding facility period.

The demands were set forth by a BGMEA team headed by the association President Shafiul Islam Mohiuddin, during a meeting with Dr Nasiruddin Ahmed, Chairman of National Board of Revenue (NBR).

The BGMEA requested the government to allow duty-free import of all sort of spare parts, safety equipments and devices, machinery and other building construction materials that are required for production.

Mohiuddin revealed that, the small and medium sized garment businesses are facing more difficulties as they operate in rented premises, and thus need to pay extra nine percent VAT (Value Added Tax) on rented premises.

He averred that, if the tax imposition on the rented space is withdrawn by the government, it would help the readymade garment (RMG) industry to better contribute to the country's economy.

The VAT rates have already been slashed by the government from earlier 15 to 9 percent pursuant to the requests of the RMG exporters. However, as stated by the BGMEA leaders, their profit margins are going down due to increase in power charges, rise in furnace oil prices and reducing returns on exports.

Besides, BGMEA has also called upon the government to provide zero interest loans to the garment entrepreneurs to construct dormitories for garment workers.

Fibre2fashion News Desk - India

Must ReadView All

Textiles | On 25th Mar 2017

GST to positively impact retail value chain: CBRE

The implementation of the Goods and Services Tax (GST) bill in India...

Textiles | On 25th Mar 2017

MEGlobal to build first ever US MEG plant

Monoethylene glycol (MEG) producer MEGlobal plans to construct a new...

Courtesy: Ulster Carpet

Textiles | On 25th Mar 2017

Ulster Carpets acquires Griffith Textile Machines

Northern Ireland based manufacturer of carpets, Ulster Carpets said...

Interviews View All

Smita Murarka
Amanté

‘There is huge demand in the Indian lingerie market for non-wired styles.’

Arvind Saraf
Triveni Sarees

e-Commerce is still evolving fast with constant flux and surprises

Mandeep Nagi
Shades of India

Women value something that is unique and has a flavour of India

Eamonn Tighe
Nature Works LLC

Eamonn Tighe, Fibres and Nonwovens - Business Development Manager of...

Kai Poehler
Voith Paper GmbH & Co. KG

The glass mat industry is growing by five to eight per cent annually. Kai...

Mohammad Hassan
Biax Fiberfilm

About one in every 20 patients picks up an infection while hospitalised....

Judy Frater
Somaiya Kala Vidya

Among the many honours showered on Frater, including Fulbright and Ford...

Pranav Mishra
Huemn

Designers Pranav Mishra and Shyma Shetty’s Huemn is known for its...

Prathyusha Garimella
Prathyusha Garimella

Hyderabad-based designer <b>Prathyusha Garimella</b> is known for blending ...

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
March 2017

March 2017

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

SUBSCRIBE


Browse Our Archives

GO


eNEWS
Insights
Subscribe today and get the latest News update in your mail box.
Advanced Search