The National Budget for FY 2023-24 has failed to attach due importance to the country’s apparel and textile industry, reportedly felt the former president of the Dhaka Chamber of Commerce and Industry (DCCI) Shams Mahmud.
Media reports claimed this while adding Shams, who is also the Managing Director of Shasha Denims Limited, made the observations in an interaction with the media recently even as he reportedly opined that the proposed budget has failed to address the burning issues at hand.
This was not expected, more so in light of how the country’s Prime Minister has always been supportive of the private sector, reportedly underlined the ex-DCCI President even as he reportedly added that considering the existing scenario, the industry players were expecting a reduction of tax deducted at source from 1 per cent to 0.5 per cent, which was absent in the proposed budget even as the continuation of the 15 per cent tax payable by the textile industry on their income, will have no benefit, he felt reportedly.
