Garment makers for continuing cash incentive on export receipts until 2032

Leaders of the country’s textile and apparel sector on Saturday urged the government to continue the cash incentive on export receipts until 2032.

They also urged the government to reconsider some of their major issues, including the reduction of source tax, reports BSS.

They made the demands at a post-budget joint press conference held at the BGMEA office in Uttara.

Leaders from the Bangladesh Garment Manufacturers and Exporters Association (BGMEA), the Bangladesh Textile Mills Association (BTMA), and the Bangladesh Knitwear Manufacturers and Exporters Association (BKMEA) spoke at the press briefing.

They urged the government to withdraw 1.0 per cent duty on the import of capital machinery and construction materials by factories located in the economic zones.

The leaders of the country’s textile and apparel sector also demanded introducing a special financing scheme for sustaining the country’s small and medium industries.

During the media briefing, BGMEA President SM Mannan Kochi said, “We expected that there were some policy supports for the country’s readymade garment industry, especially reducing source tax to 0.50 per cent and considering it as the final settlement, among others.”

Among others, BKMEA Executive President Mohammad Hatem and BTMA President Mohammad Ali Khokon spoke on the occasion.