Muhith Will Clearly Spell Out Incentives: BKMEA
Saturday, 27 June 2009

The finance minister AMA Muhith will clearly spell out a recession-support package for the export-focused readymade garment sector in his concluding speech on 2009-10 budget, a business leader said on Saturday.

"We informed the minister that nothing was said clearly about how much allocation was set aside for the garment sector, although Tk 5,000 crore has been announced in allocation to fight the downturn in the proposed budget," BKMEA president Fazlul Hoque said.

"[The minister] said there will be a clear announcement in the concluding speech of the budget," Hoque bdnews24.com by telephone.

Hoque's remarks came after a delegation of Bangladesh Knitwear Manufacturers and Exporters Association and Bangladesh Garment Manufacturers and Exporters Association met with the minister in the day at his home in the capital.

He said the minister assured them that if necessary there would be increased financial and policy assistance to help the apparel sector to ride over the economic recession impacts and grow further.

The delegation told the minister that a number of small and medium garment industries will collapse if they do not get essential assistance, because there will not be any improvement in their condition in the next six months.

"Under the circumstances, we've requested the minister to ease rules in releasing money of the financial incentives and include a sub-committee in the taskforce to suggest steps to combat the recession," The BKMEA chief said.

"We've also suggested bonus against export," he said and added that they had received positive response from Muhith.

Source: bdnews24.com

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