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.
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.