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BGMEA demands cash incentive on exports
Mar '09
The woes of the Bangladesh are keeping on increasing with each passing month and the list of demands is also keeping pace. In a new development, the newly elected President of the Bangladesh Garment Manufacturers and Exporters Association (BGMEA), Mr Murshedy has demanded a 10 percent cash incentive on exports.

Mr Murshedy made this call, a day after the Federation of Bangladesh Chambers of Commerce and Industry (FBCCI) demanded a rescue package of Tk 60 billion to stave off the crisis. Earlier, the Bangladesh Knitwear Manufacturers and Exporters Association (BKMEA) had raised a demand for the 10 percent cash incentive.

According to Mr Murshedy, “The order book position of the textile and garment industry fell by 4.98 percent in January, while it plunged sharply by 17.58 percent in February and at the same time, in some cases the order cut was as precarious as 75 percent and I do not expect the scenario to change drastically in March too”.

He urged upon the government to increase the 3-5 tenure of bank loans to 7-10 years and keep the interest rate under 7 percent and also suggested that subsidy be provided on purchase of diesel for generators, on the lines provided to the agriculture sector, since due to the serious power shortage, units had to be run on generators.

Fibre2fashion News Desk - India

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