Garment accessories assoc seeks govt assistance

The Bangladesh Garments Accessories and Packaging Manufacturers and Exporters Association yesterday sought government assistance to upgrade to state-of-the-art facilities in Bangladesh. 

Addressing a press conference on its premises in Dhaka, AKM Mostafa Selim, the association's acting president, also demanded that the government offer them bonded warehouse facility.

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He also urged the government to reduce source tax on export of garment accessories and packages to 0.5 per cent from 1 per cent and keep it in effect for five consecutive years.

The government should also ban import of garment accessories and packaging materials as those are now made in the country, he said.

Selim welcomed the proposed budget for fiscal 2023-24 for offering an incentive on export receipts of garment accessories and packaging materials, saying that the initiative would help increase shipments from the sector.

However, the budget has no specific guideline on addressing the severe fallouts of the pandemic, Russia-Ukraine war, US dollar shortages, price hikes of raw materials and complexities in opening letters of credit with banks, he said.

The packaging and accessories industry has been playing a major role in catering to the local market, which ultimately has reduced lead time for garment exports, he said.