Garment & textile players plead for government support
23 Jun '05
1 min read
Bangladeshi garment and textile players appealed the Government to impose import duty on ready-made garments and to smoothen the process of loan on easy term to enhance textile and garment industries.
They also urged to eliminate duty-free access of raw materials and machineries that is utilized in the industry to set up local garments industry within the city.
President of Bangladesh Grey and Finished Fabrics Mills and Exporters Association (BGFFMEA), Harun-ur-Rashid informed that the illegal import of cheap Chinese clothes by some dishonest traders, was disrupting the local markets.
Citing example of India and Pakistan, Alauddin Malik, Leader of the Association explained that the long-term interest rate of 12-14 percent, which when totaled comes to 17-19 percent in cyclic interest rate to set up a garments industry, is as high as three times that compared with other countries.
The Government should fix 7 percent interest rate for long-term loans to enhance the garments sector in a competitive international market.
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