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He averred that, if the tax imposition on the rented space is withdrawn by the government, it would help the readymade garment (RMG) industry to better contribute to the country's economy.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

Apparel/Garments | On 18th Jan 2017

Government considering 100% FDI in single brand retail

The Government of India is looking at allowing 100 per cent foreign...

Courtesy: Walmart

Apparel/Garments | On 18th Jan 2017

Walmart to create 34,000 new jobs in the US

The world’s biggest retailer and also the biggest US private sector...

Courtesy: UN Department of Public Information

Textiles | On 18th Jan 2017

World economy expanded by just 2.2% in 2016: UN

The world economy expanded by just 2.2 per cent in 2016, the slowest...

Interviews View All

Evelyne Cholet
UCMTF

‘France had a reputation of being big in new ideas, but poor in marketing...

Sonia Agarwal
Whitenife

‘The terms eco-friendly and organic are common but everyone perceives them ...

Yash Agarwal
Hitansh Online

Every market region has its own culture and trends

Iago Castro Asensio
RCfil Distribuciones S.L.

Iago Castro Asensio, International Business Manager of RCfil...

Eric Scholler
Groz-Beckert

The Indian market has huge potential in technical textiles, and by far,...

Giorgio Mantovani
Corman S.p.A

Giorgio Mantovani, MD of Corman, with a presence in both Milano and New...

Rupa Sood and Sharan Apparao
Nayaab

Nayaab, an exhibition meant to celebrate Indian weaves, is in its second...

Wendell Rodricks
Wendell Rodricks

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

Bani Batra

Bani Batra’s couture wedding collection is inspired by traditional Indian...

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
January 2017

January 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