BGMEA made important proposals at a meeting titled ‘Meet the Business’ organized by the National Board of Revenue (NBR) to address the current challenges of the garment industry and facilitate trade, a press release said.
Today, September 10, the meeting was held at the Multipurpose Hall Room of the Board of Revenue under the chairmanship of NBR Chairman and Internal Resources Department Secretary Md. Abdur Rahman Khan FCMA.
BGMEA Vice President Md. ShihabUddoza Chowdhury represented the garment industry in the meeting. He was accompanied by BGMEA Director Sumaiya Islam.
The meeting was attended by high-ranking representatives of various commercial organizations, chambers and government agencies including the Federation of Bangladesh Chambers of Commerce and Industry (FBCCI), Metropolitan Chamber of Commerce and Industry (MCCI), BCI.
On behalf of BGMEA, Md. ShihabUddoza Chowdhury thanked the NBR Chairman for taking the initiative to organize a monthly exchange of views with all stakeholders. He said that the garment industry is currently going through a deep crisis due to various global and domestic reasons. In this situation, it will be difficult to sustain this major industrial sector of the country unless the import-export process is made simple and harassment-free.
He drew the attention of the Chairman to several important issues to simplify the import-export process of the garment industry.Notable among these proposals are:
Back-to-back LC for non-bonded companies: Providing an opportunity to open local back-to-back LC in favor of non-bonded companies in the textile and garment industry.In addition, canceling the obligation of having a bond license in case of supplying goods from bonded concealed exporters to non-bonded direct exporters.
Import of raw materials on FOC basis: Simplifying the process of importing raw materials obtained free of cost (FOC).
VAT exemption: Approval and VAT exemption for receiving services like washing, printing, dyeing and embroidery from bonded companies through non-bonded companies.
Sub-contract facilitation: Making sub-contract activities in the garment industry easier and faster.
Redetermination of wastage rate: Redetermination of the rate of wastage in the production of woven garments from cloth to make clothes in line with reality. • H.S.Code in Bond License: Removing the existing complications in the addition of H.S.Code in Bond License.
Server of Asaikuda System: Quickly resolve the issues related to the server of Asaikuda System to speed up the export process.
BGMEA hopes that today’s discussion will play a positive role in the development of the country’s trade, commerce and industrial sectors.
