Committee formed to recommend export increase
Thursday, 15 October 2009

The government on Thursday formed a committee headed by former finance minister M Saiduzzaman to increase export by fighting the global economic meltdown.

The constitution of the committee comes in line with the decision at the taskforce meeting on Sep 16, a finance ministry circular said.

The committee of Saiduzzaman, also chairman of Credit Rating Agencies of Bangladesh, will recommend the necessary initiatives to develop the overall export state, specially in the woven, knitwear and textile sectors, in the post-recession period.
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It will also suggest appropriate measures regarding the industries in poor condition.

The committee, mandated to co-opt more members, is to submit a report containing the recommendations by one month into its formation, the circular added.

The eight other members of the committee, where finance secretary Mohammad Tareq will be the member secretary, are the governor or a deputy governor of Bangladesh Bank, Dr Mustafizur Rahman, executive director, Centre for Policy Dialogue, and Ahsan Habib Mansur.

Presidents of the major trade bodies FBCCI, BGMEA, BKMEA and BTMA have also been included in the committee.

Finance minister A M A Muhith after the taskforce meeting on Sep 16 said the woven and knitwear industries will receive support from the government's stimulus package to combat global recession fallout.

The support will be provided according to details to be worked out by the working committee.

About the committee Muhith said, "A decision was made to form a working committee within days to figure out the amount and manner of allocation. The committee will submit its report by October, and the aid will be provided in line with its recommendations."

Muhith said, "We called it 'a great recession' when we announced the package back in April. But the global scenario has changed since and we hope that it will not affect our economy too seriously in the long run."

In April, the government announced a proposed stimulus package of Tk 3,424 crore, based on recommendations made in the meeting.

However, the two major trade bodies of the garments industry, the BGMEA and BKMEA, were highly critical as the huge export-earning RMG sector was excluded altogether from the proposed package.

The two trade bodies later welcomed the revised Tk 5,000 crore package included in the FY 2009-10 budget, although they again expressed concern that the RMG sector still received no specific allocation.

Source: bdnews24.com

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