Considering the challenges faced by the newly established buying houses towards obtaining registration within the stipulated timeframe, the Bangladesh Government has recently withdrawn the time limit imposed on buying houses in the garment and textile sector to register with the Department of Textiles (DoT).
The Textile and Jute Ministry earlier in November dropped a sub-section of a Gazette notice issued on 28 May that directed all buying houses to register with the DoT within 60 days of issuance of the notice in order to do business in Bangladesh.
The sub-section had previously underlined that if any buying house sought time extension with valid reasons, the registrar could allow it additional time of 60 days.
However, it had also maintained that if any buying house failed to obtain registration on time, the Government would take legal action against it as per the law.
The move to relax the timeframe for registration came after only 211 entities were reportedly being able to obtain the required registration in the last six and a half months.
The decision would also be good for companies which are new in business, maintained President of Bangladesh Garment Buying House Association Kazi Iftequer Hossain speaking to the media adding, many companies had failed to apply to the DoT for registration on time as they could not renew their trade licences in July.