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RMG sector may receive bounty for exports to new markets
Nov '09
The national taskforce committee on recession, which was explicitly set up to suggest ways and means to help the apparel export sector overcome the recessionary trends, has suggested that the apparel exporters be given 5 percent cash subsidy, explicitly for goods shipped to new export markets.

Under the recommendations exports meant for destinations other than the US, EU and Canada will be eligible for the incentive. These three countries and regions account for 90 percent of the overall exports of clothing from the country.

The taskforce has also suggested to the government for extending the bank loan rescheduling facility to garment exporters till June 2010 at only 10 percent interest rate without any down payment. The previous loan rescheduling facility date ended in September.

Among other recommendations, it has also suggested to cut down the annual license fee to Tk 500,000 for operating the captive power plants.

Fibre2fashion News Desk - India

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