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Garment owners happy with budget but seek more

Published : Saturday, 5 June, 2021 at 8:26 PM  Count : 495

Garment owners happy with budget but seek more

Garment owners happy with budget but seek more


Claiming that they do not get anything new in the proposed budget for FY 2021-22, Bangladesh Garment Manufacturers and Exporters Association (BGMEA) leaders have made a number of demands to the government.

They made the demands at a press conference on proposed budget for FY 2021-22 held at BGMEA Complex in city’s Uttara on Saturday. BGMEA president Faruque Hassan read the written statement while vice presidents of the organization SM Mannan, Shahidullah Azim and Khandaker Rafiqul Islam, among others, were present at the press conference.

The BGMEA president said, “Though we have a number of proposals in the budget for revolving the garment industry and creating employment, it has not been reflected. However, there has been no change in the budget for tax and other policies for the garment sector. As a result, source tax, corporate tax and cash assistance will continue. This is a positive sign.”

He said, “Exports in new markets have declined as these markets have suffered more economically due to the coronavirus. So I am requesting to increase the incentive rate from four percent to five percent to keep exports in these new markets.”

Demanding withdrawal of the 10 percent tax on cash incentive, the BGMEA president said, “The government would not lose too much revenue if the tax withdrawn. But the industry would be benefitted. Cash flow will increase which will help to create job facility.”

The BGMEA President has demanded a 10 percent special incentive for the export of non-cotton fiber garments at the press conference and said, “Despite some investments in non-cotton fiber, we have not been able to survive with competing countries. Giving incentives will create opportunities for survival.”

GY






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