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Textile & apparel associations urge incentive, easing barriers in importing yarn to govt.

Leading Textile and apparel associations have press forward various demands to seamless apparel export. Against the backdrop of increasing global cotton price, local millers are thinking about increasing the price of yarn in the local market because of the increase in the price of cotton, raw material for yarn, in the international market.

bangladesh-Textile-apparel-associations-incentive-barriers-importing-yarn t
Figure: Apparel makers came up with demands like cash incentives on apparel made with imported yarn.

Apparel makers came up with demands like cash incentives on apparel made with imported yarn, permission of importing yarn through land ports beside Benapole as part of eliminating the current barriers in importing yarn from the neighboring countries.

Besides, the apparel makers press the government to let fractional export of goods against an LC.

At a recent meeting with Commerce Minister Tipu Munshi, the leaders of Bangladesh Garment Manufacturer and Exporters Association (BGMEA), Bangladesh Textile Mills Association (BTMA), Bangladesh Knitwear Manufacturer and Exporters Association (BKMEA), and Bangladesh Terry Towel and Linen Manufacturer and Exporters Association (BTTLMEA) expressed these demands.

Apparel makers demands
Cash incentives on apparel made with imported yarn
Permission of importing yarn through land ports beside Benapole as part of eliminating the current barriers in importing yarn from the neighboring countries
Fractional export of goods against an LC
Building capacity at the land ports and proper infrastructure for examining the imported goods before allowing import of yarn through land ports
Incentives should be calculated directly on the export amount, rationalization of depreciation or wastage rate of raw materials in RMG manufacturing

At the meeting, leaders urge the govt. to build capacity at the land ports and proper infrastructure for examining the imported goods before allowing the import of yarn through land ports.

BTMA President Mohammad Ali Khokon told media that, “A proper infrastructure has not been developed at the Bhomra land port yet. Other ports also do not have adequate equipment. It would not be right to allow the import without building the capacity of the port.”

RMG makers also requested that the incentives should be calculated directly on the export amount, rationalization of depreciation or wastage rate of raw materials in RMG manufacturing.

They also urge the govt. to remove all type of harassment in the process of paying VAT and customs duty.

Minister Tipu Munshi had promised that he would send a letter to the concerned offices, including the finance ministry, to erase the prevailing barriers to yarn imports.

If anyone has any feedback or input regarding the published news, please contact: info@textiletoday.com.bd

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