Home / Knowledge / News / Textiles / Budget receives mixed reaction from textile sector & exporters
Budget receives mixed reaction from textile sector & exporters
Jun '08
The budget for 2008-09 released yesterday received mixed reactions from the recipient industries. Mr Mirza Azizul Islam, Finance and Planning Adviser proposed a further reduction in the present concessionary rate of duty on import of capital machinery and spare parts from 5 to 3 percent.

Mr Mirza also proposed a reduction of import duty on basic raw materials from 10 to 7 percent and an additional 3 percent decrease on intermediate raw materials bringing it from 15 to 12 percent. Besides, the Finance Minister also provided for bonded warehouse facilities to all 100 percent export oriented industries along with an allocation of Tk1,050 crore as export subsidy.

However, the duty on finished products which was considerably high at 25 percent remained unchanged for the budget 2008-09. Industrialists in readymade garment and machinery sector were particularly appreciative of the new budget.

For more information on budget click here

Ministry of Finance

Must ReadView All

Textiles | On 23rd Jun 2017

Textile ministry organises training workshop on GST

The ministry of textiles had organised training workshop on GST which ...

Apparel/Garments | On 23rd Jun 2017

Uware Brands into licensing agreement with Polaroid

Uware Brands has entered into a licensing agreement with Polaroid for ...

Textiles | On 23rd Jun 2017

Ralph Lauren ex-president Tiger of Sweden's new CEO

Hans-Christian Meyer, former president of Ralph Lauren Corporation,...

Interviews View All

Nitin Soni
Dolphin Jingwei Machines

Taxation policies need to be made simpler

Veronique Lee

‘Sustainable fashion is trending upwards, slowly but surely, as people...

Shawn Honeycutt
Bolger & O'Hearn

‘The Indian market is interesting and rather persistent in seeking new...

Urs Stalder
Sanitized AG

Urs Stalder, CEO, Sanitized AG, talks about the increasing use of hygiene...

Steve Cole
Xerium Technologies

Steve Cole of Xerium Technologies discusses the industry. Xerium is the...

Suresh Patel
Sidwin Fabric

Sidwin Fabric is a manufacturer and exporter of polypropylene textiles and ...

Ritu Kumar
Label Ritu Kumar

‘Classics will return’ "There are a lot of people wearing western clothes ...

Aditi Somani
Aditi Somani

Aditi Somani specialises in luxury fusion wear with international cuts and ...

Rupa Sood and Sharan Apparao

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

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


Letter To Editor

(Max. 8000 char.)

Search Companies


news category

Related Categories:
June 2017

June 2017

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


Browse Our Archives


E-News Insight
Subscribe Today and Get the
Latest News Update in Your Mail Box.
Advanced Search