Praneeta Prakash 
The Textile, Clothing and Footwear Council has welcomed the removal of the three percent import duty on raw materials announced in the 2024/2025 national budget.
According to TCF Council President Inbamalar Wanarajan, the unexpected introduction of this duty in the previous year’s budget had placed a significant financial burden on industry members.
She says as an industry they held several discussions with government stakeholders to explain their position.
Wanarajan says the removal of 3% import duty on raw materials is a positive step for the TCF industry as this will lead to reduced cost of production.
She adds that the increase in the national minimum wage rate was expected since the cost of living has gone up and they fully support wage reviews and increases.
She says the TCF Council fully supports wage reviews and increases but emphasizes the need for productivity improvements to accompany higher wages.
She highlighted the importance of workers’ commitment to their roles and the need to address chronic absenteeism.
Wanarajan says they will continue to work closely with relevant stakeholders on wage reviews.
She adds that the allocated budget for the drug rehabilitation will remove many social problems which will lead to healthy society and hopefully, this contributes towards productivity improvements.
The TCF president also says the 2024/2025 national budget is a well-balanced budget covering main areas and is a strong foundation for future growth.
