Home / Knowledge / News / Apparel/Garments / Subsidies help only fill buyers pockets – Advisor to PM
Subsidies help only fill buyers pockets – Advisor to PM
05
Nov '09
Providing continuous subsidies to the export oriented clothing manufacturing sector would not prove to be fruitful in the country's interests, as these benefits are passed on to the overseas buyers who demand competitive prices for their purchases.

This was mentioned by the economic advisor to the Prime Minister, Mr Mashiur Rahman at a seminar organised by the Bangladesh Knitwear Manufacturers and Exporters Association (BKMEA), on the sidelines of the fifth knitwear exposition.

He said that as and when the government has increased incentives and subsidies, the overseas buyers have demanded lower prices in the same proportion, which nullifies the effect of the subsidy and in no way serves the local exporter.

He also admitted that, the existing high bank interest rate is really a problem for industrial sector, but if the interest rate on loans is reduced, it will also lead to a cut in deposit rates which in turn leads to massive withdrawals, leading to less debt financing in the industrial sector.

Instead, he stressed on readjusting energy tariffs somewhere at an upward level, improving transport infrastructure and developing more ports for the growth of business.

Fibre2fashion News Desk - India


Must ReadView All

FDI in Vietnamese textile-garment projects on the rise

Apparel/Garments | On 24th Jun 2018

FDI in Vietnamese textile-garment projects on the rise

The European Union-Vietnam Free Trade Agreement and the Comprehensive ...

Courtesy: Alizilla

Apparel/Garments | On 24th Jun 2018

Alibaba Group sets up office in Kuala Lumpur

Strengthening its commitment to Malaysia, Alibaba Group has set up an ...

Bombay Dyeing plans to wind up Indonesian JV

Textiles | On 24th Jun 2018

Bombay Dyeing plans to wind up Indonesian JV

Bombay Dyeing & Manufacturing Co Ltd plans to wind up its loss making ...

Interviews View All

Top executives
Textile industry

It will take some time for the people to change their buying choices

Karel Williams
Dow Microbial Control

'Silvadur is most rapidly adopted in areas where hygiene-conscious and...

Asim Dalal
Indo Count Retail Ventures

Today, there is no other emerging market as India, "we make in India and...

Vikas Banduke

Softech Controls Private Limited (SCPL) is a part of the Cotmac Group, an...

Abhishek Pachauri

Reckon Industries adapts latest systems for manufacturing from designing...

Hardik Sanghvi

Idealin Fogging Systems has been engaged in designing and manufacturing...

Urs Stalder
Sanitized AG

Urs Stalder, CEO, Sanitized AG, talks about the increasing use of hygiene...

Ashok Desai
Bombay Textile Research Association

Bombay Textile Research Association (BTRA) is a leading name in textile...

Johan Berlin
InvestKonsult Sweden AB

Investkonsult Sweden AB has been buying and selling second-hand textile...

Sidharth Sinha
Sidharth Sinha

<b>Sidharth Sinha</b> has contributed to the successful rebirth and...

Mike Hoffman
Gildan Activewear SRL

Gildan Activewear, a manufacturer and marketer of branded clothing and...

Bani Batra

Bani Batra’s couture wedding collection is inspired by traditional Indian...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH

Leave your Comments


June 2018

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

news category


Related Categories:

Advanced Search