Bangladesh Government after determining the wastage rate for the production and export of knitwear (at maximum 30 per cent) is now all set to fix the wastage rate for home textile products and terry towel.
According to reports, the Government’s move follows a letter written by the Foreign Investors Chamber of Commerce and Industry (FICCI),which demanded the Government to fix the wastage rate for home textile and terry towel products so as to remove some hurdles and boost exports.
There is no specific determined wastage rate for the home textile and terry towel products produced in and exported from Bangladesh, reportedly, maintained the FICCI letter while adding the absence of a particular wastage rate for the said product categories was creating multiple problems and challenges in producing, exporting and obtaining Government-provided cash incentives.
