Bangladesh Textile Mills Association opines current insufficient budgetary measures proposed for the next fiscal might hamper the country’s textile and garment exports. While it hailed other proposals in the budget, BTMA urged the government to reduce source tax to 0.25 per cent, re-fix fabrics tariff value, and 1.0 per cent import duty on all types of spare parts of textile machinery.

Mohammad Ali Khokon, President, BTMA also urged the government to fix VAT on all kinds of yan to Tk 3, withdraw VAT on fabrics made from MMF and allow duty-free import of all types of fibers. Khokon also wants encouragement for product diversification and discouraging large import of artificial yarn. He believes, though the budget priorities RMG exports, it does not encourage entire development of the sector.

Bangladesh Textile Mills Association or BTMA is the national trade body for textile mills, manufacturers, and mills in Bangladesh and is located in Dhaka, Bangladesh. It carries out research on the Textile Industry in Bangladesh. Tapan Chowdhury, the Chairman of Square Group, is the president of the trade association.