Foreign investors ask for a fixed wastage rate

Foreign investors want the government to fix the wastage rate for home textile and terry towel products to overcome some barriers and boost exports. 

The Foreign Investors Chamber of Commerce and Industry (FICCI) requested the commerce ministry to take necessary steps in this regard in a letter.

“There is no specific determined wastage rate for the home textile and terry towel products produced in and exported from Bangladesh,” the letter reads. 

In its letter, FICCI also said that the Commerce Ministry has recently re-determined the wastage rate for the production and export of knitwear at a maximum of 30% in Bangladesh.

 “Due to the similar nature in production, we believe that the wastage rate of the home textile and terry towel sector may be fixed at the same rate as the knitwear sector,” FICCI says.

 

The chamber believes that this initiative will increase the production and export of home textile and terry towel products and generate more employment in the country. It will also help attract more foreign direct investment in the home textile and terry towel sector.