Taskforce measures to shoot up export to $10bn by 2010
29 Aug '06
1 min read
Quick implementation of the recommendations of taskforce report will help textile exports reach US$ 10 billion by 2010, expected the textile makers while welcoming Governments response on the issue.
Chairman of Bangladesh Textile Mills Association (BTMA), M A Awal, hoped that the directive issued by Prime Minister Khaleda Zia to act immediately on the recommendations of the report would ensure its immediate implementation.
The task force formed in 2005, suggested maintenance of the existing bank loan and investment ratio at 70 and 30 percent and then fixing the lending rate at nine percent for the sector.
Report of the task force further included measures like financial assistance for all textile sub-sectors on a priority basis, import facility for dye-chemical which is duty free, increasing the cash incentives to ten from five percent within a span of next ten years.
The report recommended the abolition of tax-holidays and suggested an increase in income tax from five to 15 percent over a time span of 15 years.
Awal feared that an organized group was active in the readymade garment section to dampen the industries. He also accepted the need to raise the workers wages rationally.
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