The existing rules applicable for the readymade garment industry of Bangladesh, which is the largest export-earning sector in the country, are likely to remain unchanged in the forthcoming national budget.
Media report maintained this citing unnamed source from the Ministry of Finance while adding that the current tax and other duty rates are likely to continue next year while underlining that the FY22 budget may not have anything special to offer for the garment industry even as it stated the budget is expected to focus on boosting exports and the industrial sectors to create more employment.
Meanwhile, speaking to the media, the newly elected President of the Bangladesh Garment Manufacturers and Exporters Association (BGMEA), Faruque Hassan, reportedly, expressed hope the Government will take the right decision to help the industry become more competitive even as he, reportedly, underlined that he wasn’t sure what will be there in the next budget for the RMG sector.
The BGMEA President further, reportedly, underlined that if the Government comes up with budgetary policy support to export-oriented industries, more employment opportunities could be created through new investments even as he stated the Government would also be able to realise more revenue as well.
