Step-motherly treatment meted to RMG's in stimulus package

20 Apr '09

2 min read

The recent stimulus package initiated by the Bangladesh has evoked a mixed response, with garment exporters expressing dissatisfaction and surprise with the package allocated to the sector, which generates 75 percent of overall exports and employs over 2.5 million people.

At the same time they have also lauded the government for declaring the stimulus package in time to enable the industrial sector to face and tackle the fallout of the economic recession and the resultant slowdown which has affected the economy to a great extent.

Unfortunately the export oriented garment sector, which has made rapid strides in the last few years, has received only a nominal percentage of the overall stimulus package which stands at Taka 3,424 Crore spread across the industrial as well as agriculture sector.

Against a mind boggling Taka 1,500 Crore earmarked for the agriculture sector, the garment export sector will have to share Taka 450 Crore, allocated to the export sector along with other export industries like jute and jute goods, leather and leather goods and frozen foods.

The finance minister when asked to comment on the Taka 450 Crore package allocated to export-oriented sector said, other packages like policy support and bank-loan re-scheduling have already been declared for these sectors.

Fibre2fashion News Desk - India

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