BGFFMEA demands imposition of flat duty on imported fabrics
Monday, 10 May 2010
FE Report
Bangladesh Grey and Finished Fabric Mills and Exporters' Association (BGFFMEA) has demanded imposition of specific duty on imported fabrics with a view to protecting the local industry.
They have proposed imposition of $ 4.0 duty on imported suiting and $5.0 on shirting in the budget for the fiscal 2010-2011.
The association put forward the proposal during its pre-budget meeting with the National Board of Revenue (NBR) Sunday at the Board premises.
BGFFMEA president Harun-or Rashid said the country's market is now flooded with imported fabrics while local manufacturers have been exporting the fabrics after meeting the local demand.
"Chinese and Indian fabrics have also grabbed the upazila (sub-district) level markets during the last few years," he said.
The association has also demanded of the government to waive duty on capital machinery and reduce prices of diesel and furnace oil needed to run industry during frequent power load shedding.
They have urged the NBR to install CCTV (closed circuit television) camera for checking false declaration relating to imports through the land ports.
NBR chairman Dr. Nasiruddin Ahmed has requested the association leaders to help revenue board through payment of proper tax and value added tax (VAT).
He said the government would attach priority to the protection of local industries in the budget for the upcoming fiscal.
Bangladesh Grey and Finished Fabric Mills and Exporters' Association (BGFFMEA) has demanded imposition of specific duty on imported fabrics with a view to protecting the local industry.
They have proposed imposition of $ 4.0 duty on imported suiting and $5.0 on shirting in the budget for the fiscal 2010-2011.
The association put forward the proposal during its pre-budget meeting with the National Board of Revenue (NBR) Sunday at the Board premises.
BGFFMEA president Harun-or Rashid said the country's market is now flooded with imported fabrics while local manufacturers have been exporting the fabrics after meeting the local demand.
"Chinese and Indian fabrics have also grabbed the upazila (sub-district) level markets during the last few years," he said.
The association has also demanded of the government to waive duty on capital machinery and reduce prices of diesel and furnace oil needed to run industry during frequent power load shedding.
They have urged the NBR to install CCTV (closed circuit television) camera for checking false declaration relating to imports through the land ports.
NBR chairman Dr. Nasiruddin Ahmed has requested the association leaders to help revenue board through payment of proper tax and value added tax (VAT).
He said the government would attach priority to the protection of local industries in the budget for the upcoming fiscal.