CPD RMG Study Stitching a better future for Bangladesh
Every day, CPD RMG Study team reveals what’s on our economic and apparel radar and curates a selection of the best reports, opinion, and analysis you may have missed
Bangladesh’s maiden liquefied natural gas (LNG) import is one step closer to fruition after the cabinet gave the green light to the pricing and draft contract for the deal, the Daily Star reported.
The government will sign a 15-year contract with Qatar’s RasGas as it makes an earnest push towards addressing Bangladesh’s gas scarcity, the report added.
GST Woes Are Adding to India’s Export Slump
Indian Prime Minister Narendra Modi, during the launch of the goods and services tax (GST) regime, described it as a “good and simple tax” that would end harassment of traders and small businesses and integrate India into one market with one tax rate. However, it has not turned out that way at all, at least as far as exporters are concerned. Indian exporters are already feeling pressure on their margins because of rupee which has appreciated by nearly 7% this year. GST issues could add to their woes, Indian online news portal Wire reported.
Pakistan’s PRGMEA for revision of textile policy
Pakistan Readymade Garments Manufacturers and Exporters Association (PRGMEA) Central Chairman Ijaz A Khokhar has said the formulation of sector wise policies is the only remedial solution to stabilise textile exports, Pakistan’s daily the Nation reported.
July import payment soars on the back of rice inflow
Import payments in July, the first month of this fiscal year 2017-18, increased by 44.28 per cent year-on-year due to a substantial amount of rice import amid crop losses caused by floods this year, New Age reported.
According to the latest Bangladesh Bank data, the total import bill payments stood at $4.04 billion in July this year, while the figure was $2.80 billion in the same month of 2016, the report added.
The BB data showed that rice import increased to $71.26 million in July from $1.32 million during the same month a year ago, the report said.
