Commerce Minister Tipu Munshi said Prime Minister has given instructions to solve the problems of garment industry on priority basis.
He said the government is giving priority to the RMG industry considering it’s contribution to the country’s economic growth along with the employment generation and export earnings.
Minister made the remarks while exchanging views BGMEA leaders in Chittagong on Friday.
He also urged all concerned to play a positive role in the larger interest of the national economy.
The BGMEA leaders met with the Commerce Minister at Hotel Radisson Blu in Chattogram .
BGMEA First Vice President Syed Nazrul Islam led the BGMEA team.
BGMEA Vice President Rakibul Alam Chowdhury, Former Vice President (Finance) Mohammad Nasir and others were present. BGMEA First Vice President Syed Nazrul Islam said that Bangladesh crossed the milestone of 50 billion export earnings in the financial year ended under the leadership of the Prime Minister and his government.
“Due to the global energy crisis and abnormal increase in the prices of fuel, the cost of production in the garment industry we are to meet higher costs export, on the other hand, the foreign buyers are not increasing the price of the garment”, he added.
Therefore, he requested the Prime Minister through the Minister of Commerce to urgently reduce the source tax from 1% to 0.50% against exports in order to reduce domestic costs to increase our export capacity.
He said that for the sake of continuing export growth amid the current economic recession, it is necessary to keep the export-oriented clothing industry bring under exempt from VAT in order to eliminate the complications created by the customs authorities and to stop the harassment of the VAT authorities.