During the meeting, President, BTMA discussed some of the BTMA budget proposals mainly-
• Maintain the existing 15% income tax of SRO no. 218-Ain/Income Tax/2019 dated 23rd June, 2019 for the textile & clothing manufacturers in the textile sector up to the year 2030.
• The demand for Man-made fibre is increasing rapidly worldwide and at the same time recycled Fibre is gaining popularity. Considering this allow duty free import of all kinds of Man-made Fibres and Recycled Fibres for the growth of the non-cotton garments industry and help product diversification in the country.
• Yarn regardless of the fibre composition should be subjected to VAT of Tk 3 per kg instead of Tk 6 per kg.
The President, BTMA informed the Hon’ble Minister that the above proposals of BTMA are very much related with the development of the Primary Textile Sector as well as RMG. Considering the importance of the above proposal he requested Hon’ble Minister for textiles & Jute for his personal intervention to accommodate BTMA’s above proposals in the National Budget of 2022-23.The Minister gave patient hearing and assured BTMA that he will do the needful within his jurisdiction.
Mr. Mohammad Abul Kalam, NDC, Additional Secretary of the Ministry attended the meeting. On the other hand, Mr. Md. Fazlul Hoque, Vice President, BTMA , Mr. Khorshed Alam, Former Director, BTMA , Mr. Saleudh Zaman Khan, Director, BTMA and Mr. Monsoor Ahmed, Additional Director & CEO (In Charge) accompanied the President.