Wastage rate to revise next week

Al Ehsan: Bangladesh Knitwear Manufacturers and Exporters Association (BKMEA) Executive President Mohammad Hatem Ali said that the wastage rates would be revised in the next week. The commerce ministry on 19th December issued an order the maximum wastage rates upwards for raw materials used in producing readymade garments (RMG).
Hatem Ali said, “we are busy with the Industry Ministry to fix the complexity about Forwarder’s Cargo Receipt (FCR) and Free On Board(FOB) in this week. We hope Industry Ministry will solve the wastage rate issue within the next week.”
BKMEA Executive President said, “The government took the decision by non-technical people without taking the real scenario into consideration, he complained. Commerce ministry formed a committee to scrutinize their demands and visited some six factories that are most efficient and produce less wastage. During their visits, the committee found wastage rates ranging from 35 per cent to 50 per cent for some special items.”
The BKMEA had sent a letter to the Industry Ministry that also states no sweater factory has been reviewed by the committee so far but the rate of depreciation of sweaters and socks items has been fixed at 4%, which is completely unreasonable. The rate in sweater production is usually more than 12%.
Earlier Bangladesh Garment Manufacturers and Exporters Association (BGMEA) had sent a letter to revise the wastage rate on the last 22th December