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    Budget 2015-16 is not Textile Sector Friendly

    Leading garment exporters have opposed the increase of tax at source on garment export at a press conference, held on Friday in Dhaka, as finance minister ABUL MAAL ABDUL MUHITH has declared the rise of tax at source from 0.3 percent to 1 percent in the proposed budget for the economic year 2015-16.

    Four leading organization of this sector have demanded to abate the tax at source on garment export, at a press conference at BGMEA headquarters in the capital. They are Bangladesh Garment Manufacturers and Exporters Association (BGMEA), Bangladesh Knitwear Manufacturers and Exporters Association (BKMEA), Bangladesh Textile Mills Association (BTMA), Bangladesh Garments Accessories and Packing Manufacturers and Exporters Association (BGAPMEA).
    BGMEA press briefings on budget 2015-16
    BGMEA press briefings on budget 2015-16
    President of BGMEA, ATIQUL ISLAM has said on the behalf of the four trade bodies that,” the budget is business friendly but not textile friendly and textile and garment sector would be the worst victim of this rise of tax at source”. However, non-government research organization Center for Policy Dialogue has appreciated this decision of the government.

    ATIQUL ISLAM also pointed that garment sector was facing the problem of image crisis after the incident of TAZREEN Garment and RANA Plaza. Millions of dollars is being invested for the repair and safety assurance in this regard. So sudden tax hike at source is completely illogical and it would affect the future of this sector. He also added if the government keeps the tax at source at 0.3 percent, the garment and textile sector would be able to contribute more to the economy of our country.

    SALIM OSMAN, the BKMEA president has said that,” we have to keep in mind that the whole nation as well as the government is dependent on the garment and textile sector. So government should consider this proposal”. BTMA president TAPAN CHOWDHURY, BGPMEA president RAFEZ ALAM CHOWDHURY also gave speech on that press conference.

    Reported by-
    Tanvir Hossain
    Reporter of Textile Tribune
    Shahid Aziz Hall
    Bangladesh University of Textiles.
    Email: tanviranikbutex@gmail.com
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    Item Reviewed: Budget 2015-16 is not Textile Sector Friendly Rating: 5 Reviewed By: Textile Tribune