The Bangladesh Trade and Tariff Commission (BTTC) has recommended a package of fiscal facilities in the upcoming budget to enable emerging recycled cotton-fibre industries in Bangladesh to tap huge potential in apparel export.
Media reports claimed this citing the sources while adding tonnes of garment leftovers go to waste in Bangladesh even as brands and buyers from the west are making use of recycled cotton fibre in clothing products mandatory.
Reports further added in a review, the BTTC has found production cost of locally produced recycled fibre were higher than that of recycled cotton as there were no VAT or duty taxes on the same even as it proposed the National Board of Revenue (NBR) should introduce tariff for the local (VAT-registered) textile recycled-fibre- producing companies and include a new HS code related to the same (Recycle Cotton Fibre) to expedite export-import trade of the products.
