DHAKA: The government has increased 15 percent of import duty and taxes on silk products to protect local silk industry.

Finance Minister AMA Muhith made the proposal while placing the budget for the next financial year before the parliament on Thursday afternoon.

In his budget speech, the minister has proposed to increase 25 percent custom duties on Raw Silk (not thrown), Silk waste (including cocoons unsuitable for reeling, yarn waste and garnetted stock), Silk yarn (other than yarn spun from silk waste) not put up for retail sale, Yarn spun from silk waste, not put up for retail sale Silk yarn and yarn spun from silk waste, put up for retail sale and silk-worm gut from exiting 10 percents to protect local silk industry.

BDST: 1938 HRS, JUN 4, 2015
RS/SMS