Economy

Budget comforts leather sector

| Updated on March 01, 2011 Published on March 01, 2011

The leather industry has welcomed the Budget 2011-12 proposals envisaging establishment of seven mega leather clusters and full exemption granted to enzyme-based preparations for pre-tanning. Mr M. Rafeeque Ahmed, Chairman, Council for Leather Exports, said the announcements were in line with the proposals submitted by the leather industry. With the Government targeting a doubling of leather and leather product exports to over $8 billion a year, there is a need for capacity creation and augmenting output. Also, exempting enzyme-based preparations — which currently attract a 23 per cent levy — in pre-tanning of leather will help support environment-friendly processes as alsobring down costs.

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Published on March 01, 2011
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