Replying to Golam Mohammad Siraj (BNP-Bogra), he said the government has declared the textile as thrust sector for its development and is gradually reducing import duty and tax on capital machinery, construction material and spare parts needed for this sector.
Besides, he said the interest rate on long- and short-term loans is also being gradually reduced to attract investment to this industrial sector.
The Minister said that various facilities are given to encourage and protect individual or joint investment in the textile sector under Foreign Private Investment (Promotion and Protection) Act 1998.
