Bangladesh budget cuts import tariffs on non-woven fabrics by 20%

In order to greatly promote the ready-made clothing industry in Bangladesh, Bangladesh Finance Minister Abul Maal Abdul (Abul Maal Abdul) announced that the 2013-14 fiscal budget will cut non-woven import tariffs by 20%.　　 However, no new funds were allocated in the budget for the clothing industry to be re-established in a safer cluster.　　 As more than 1,100 people died as a result of the collapse of the Rana Plaza building, people in the industry hope that the minister will allocate a lot of funds to solve workplace safety issues.　　On the contrary, the minister only gave a guarantee that the government will take all possible steps together with stakeholders.　　 Mr. Muhit, Member of Parliament of Bangladesh, said: 'In order to prevent incidents like Rana Plaza in the future, we promise to take all possible measures to improve the working conditions and safety standards of the factory with all stakeholders. '　　 In the current fiscal year that ends on June 30, Bangladesh’s GDP growth rate is likely to be around 6%, down to the lowest level since 2009-10.　　 This budget aims to bring the 2013-14 growth rate back to the 7.2% track, and increase spending next year by 16% to 2.22 trillion taka.