Leather industry not properly evaluated: CA

Chief Adviser (CA) Dr Muhammad Yunus described the failure to properly evaluate and manage the country's potential leather industry as a 'crime'.

Speaking at a high-level review meeting on preparations for Bangladesh's graduation from Least Developed Country (LDC) status, held at the CA's office in Tejgaon on Wednesday (July 30), Yunus said, “We were expected to gain economic benefits from this industry, but that has not materialised.”

"A separate meeting will be convened to address the ongoing crisis in the leather industry," he added.

The session also reviewed in detail the implementation progress of 16 decisions related to the country’s graduation from LDC status.

Of the 16 decisions, the NBR is implementing 4, the Industries Ministry 3, the Commerce Ministry 3, the ERD 2, and the Chief Advisor's Office 4.

"19 organizations have joined the National Single Window, with more to follow, and noted progress in implementing the Tariff Policy 2023," NBR Chairman Md. Abdur Rahman Khan said

The meeting also discussed extending incentives and support to other export-oriented sectors following the model of the ready-made garment industry, offering duty-free import facilities for raw materials and components in the man-made fiber sector, launching an ETP at Savar Tannery Village, and ensuring effective implementation of the API Park in Gazaria, Munshiganj.

The Chief Adviser emphasized the need to pursue these measures in the country’s economic interest, calling for the revision of outdated policies or laws and the adoption of practical solutions.

Finance Adviser Dr Salehuddin Ahmed, Industry Adviser Adilur Rahman Khan, Environment Adviser Syeda Rizwana Hasan, Shipping Adviser M Sakhawat Hossain, Health Adviser Nurjahan Begum, Cabinet Secretary Sheikh Abdur Rashid, Bangladesh Bank Governor Ahsan H Mansur and secretaries of various ministries were present there.