Desk Report: The Bangladesh Garment Producers and Exporters Association (BGMEA) has urged the govt to carry on the existing costs of source tax and corporate tax for the following 5 decades to aid the potent rebound of the RMG market from the Covid-19 impacts and be certain its sustained advancement in the coming times. The association also referred to as for exemption of VAT on the goods and solutions procured from nearby marketplaces by the export-oriented RMG industries.
BGMEA President Faruque Hassan put the proposal in advance of the Countrywide Board of Income (NBR) in a pre-funds communicate held on February 17. NBR Chairman Abu Hena Md Rahmatul Muneem presided above the assembly which was also attended by BGMEA Vice President Shahidullah Azim, former 1st Vice Presidents S M Abu Tayeb and Nasir Uddin Chowdhury, Chairman of BGMEA Standing Committee on UD-Knit and Woven Md. Nurul Islam, Chairman of Bangladesh EPZ Investors’ Affiliation Shahadat Musharraf Khan, and former BGMEA Director Md. Munir Hossain. BGMEA President Faruque Hassan stated right after passing an unpresented difficult time over the previous two a long time due the Covide-19 pandemic, the RMG marketplace of Bangladesh is recovering from the impacts but it is dealing with a variety of issues, the next wave of the pandemic and its new variants.
“Increase in price ranges of yarn, chemical substances and other raw products in the international provide chain has pushed up generation expenses in garment production whilst freight fare and transportation costs have also gone up, building it demanding for the business to retain its competitiveness in the global clothing sector,” he claimed.
He further mentioned well timed coverage assistance of the govt is of utmost significant to retain the RMG sector aggressive and steer it forward, specifically at a time when possibilities are emerging for the sector with many difficulties on the other facet. The help of the authorities, the clothing business would be in a position to maintain its advancement and contribute extra the progress of Bangladesh, Faruque Hassan claimed in an optimistic be aware.