Bangladesh’s textile mills demand low rates for yarn
Once again the home textile millers have demanded the import of yarn at reasonable rates for the ones who have no bond license so that the export orders can be maintained.
Bangladesh
Once again, the
home textile millers in Bangladesh have demanded the import of yarn at
reasonable rates for the ones who have no bond license so that the export
orders can be maintained.
According to the letter written by The
Bangladesh Terry Towel and Linen Manufacturers and Exporters Association
(BTTLMEA) to the National Board of Revenue (NBR), the board has asked for
permission to import yarn at concessional tariffs. The organization has
requested for the authorization of the import of 6 to 20 count yarns, the
import of yarn at a reduced rate, and the import of yarn via land ports,
seaports, and railways. Another request was made regarding the permission of
partial shipment of yarn against the same letter of credit.
The exporters who don’t have a bond license
have to pay a 37% duty to import yarn. Around 90% of home textile exporters
don’t have these bond licenses and most of them have small capital. Hence, they
are unable to import because of high tariffs.
According to the letter, the local textile
mill owners have passed a statement that the price of yarn in the country is
normal as compared to other countries. A note was made that the textile mill owners in Bangladesh are in better
condition than others in terms of gas prices, electricity, and labour wages.
Source – The Business Standard
Image Source: India mart
Also Read:
