New BGMEA Chief Seeks Govt Support To Survive Recession
Saturday, 14 March 2009

The new BGMEA president has said the $11 billion readymade garment industry needs the government's support to deal with the aftermath of the global financial meltdown.

Abdus Salam Murshedi told bdnews24.com on assuming the new office after an annual general meeting that he would strive to safeguard the industry, one of the top forex earners.

"Garment manufacturers need governmental support ranging from financial assistance to determining policy to avert negative impacts of the recession," said Murshedi, a former soccer star.

They have been repeatedly asking the government for an 'economic package' to save the industry.

Citing 20 percent fall in garment prices in the last one year, Murshedi said they needed assistance to stay in a growingly competitive market as Bangladesh's rivals are providing assistances to their garment industries.

Finance minister AMA Muhith Thursday said the government will roll out a stimulus package by this month to help RMG exporters face the global financial downturn.

Source: bdnews24.com

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