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Leather exporters miffed by stimulus package

27
Apr '09
The leather industry is one of the biggest export revenue generators in Bangladesh after the ready made garment sector and also employs a large number of people. But the industry leaders are flummoxed by the step motherly treatment meted out to the sector in the just announced stimulus package.

According to experts from the sector, the government has chosen to mention leather export and value-added leather goods including footwear and bags, instead of mentioning incentives for leather exports and gave an additional 2.5 percent cash incentive and excludes exports of leather sheets which were not even receiving the 15 percent cash incentive.

Those exporters and manufacturers who are basically in to processing of leather are miffed by the decision of the government since they also have been hit hard by the global recessionary trends prevailing in the overseas markets. According to latest statistics, leather exports fell by a mind-boggling 33 percent in the period July-February y-o-y.

Fibre2fashion News Desk - India


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