No review of stimulus package – Industry Minister

02 Dec '09

1 min read

The extra stimulus package for export industries would not be reviewed, said the finance Minister of Bangladesh, Mr. AMA Muhith while responding to a strong plea for a review of the package by the apex trade bodies such as Bangladesh Garment Manufacturers and Exporters Association (BGMEA) and Bangladesh Knitwear Manufacturers and Exporters Association (BKMEA).

These trade bodies are not satisfied with the bailout package declared by the government as it has been made conditional for the apparel sector. The ministry approved three years' incentives for the sector, while these trade bodies have sought it for five years.

However, the Minister said that the associations need to fulfill the conditions to avail benefit of this stimulus package as BGMEA has yet not provided the required details of its small and medium industries to the government-formed committee for assessing needs, stated the Minister.

Citing RMG sector as the highest assistance-recipient sector of the country, which generates maximum employment, the Minister said that this industry enjoys many facilities, including customs benefits and corporate tax exemption.

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