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BTTLMEA seeks yarn import tax cut in Bangladesh

19
Aug '21
Pic: Shutterstock
Pic: Shutterstock
The Bangladesh Terry Towel and Linen Manufacturers and Exporters Association (BTTLMEA) recently wrote separate letters to the commerce ministry, finance ministry and National Board of Revenue demanding import of yarn count 6s-20s at a concessional duty rate to maintain export orders and keep the sector competitive in the international market.

BTTLMEA said export earnings from the county’s home textile sector stood at $1.16 billion in fiscal 2020-21 with a 49 per cent growth, but exporters now have been facing troubles due to higher prices of yarn than items produced in India and Pakistan, according to Bangla media reports.

The trade body said that home textile and terry towel makers are completely dependent on local yarn, but local mills have failed to supply yarn in line with the export deadline.

Fibre2Fashion News Desk (DS)


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