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AEPC seeks relaxed norms for garment exports

To help exporting units tide over the impact of demonetisation, the Apparel Export Promotion Council has urged the government for increased withdrawal limits and relaxation in rules for payment of statutory dues like PF, ESI and service tax for some time. The Council has shared recommendations with the government to facilitate transition towards digital payments and less cash usage, the exporter’s body.

In its request, the Council has suggested exporting units be allowed a higher threshold of cash withdrawal for making payments to artisans, loaders, purchases for developing new samples and for payment towards small freight amount. It also requested that adequate cash should be made available at banks in key clusters. It also asked for opening bank accounts of workers in RMG export sector on the unique identity basis. The account should be maintained in Employees Provident Fund Organisation in lieu of initiating a fresh KYC (Know Your Customer) requirement by the bank, it said.