BKMEA for reevaluate depreciation rate

Business Desk :
Bangladesh Knitwear Manufacturers and Exporters Association (BKMEA) has demanded that the government should increase the limit of wastage rate in apparel production.
“The order set a depreciation rate of 27% for basic knit items, 30% for special items and 4% for sweaters and socks, which cannot be considered realistic under any circumstances,” says BKMEA Vice President Mohammad Hatem.
A letter was sent from BKMEA to the commerce ministry in this regard on Monday. In the letter, BKMEA Vice President Mohammad Hatem said, “At the request of the concerned trade organisations including BKMEA and Bangladesh Garment Manufacturers and Exporters Association (BGMEA), a committee was constituted by the Ministry of Commerce to determine the rate of depreciation.” “The committee also visited several garment factories and collected written opinions from some of them. In the case of knit garments, multiple meetings were held with the commerce minister and the secretary, to redefine the depreciation rate from yarn to fabric and from fabric to garment.