Home / Knowledge / News / Apparel/Garments / Govt to announce second stimulus package
Govt to announce second stimulus package
08
Apr '10
To help exporters overcome the problems caused by continues energy crisis and global recession; the government formed a taskforce, to implement a second Tk 1,000 crore stimulus package.

The peak-hour electricity charge for garment exporters will also be waived off. During peak hours, 5 to 11 pm, charges were double that of non-peak hours.

After a meeting with the garment exporters, Finance Minister, Abdul Muhith, indicated the existence of certain misunderstandings, amongst exporters, about the implementation of the second package.

“However, we still had a good discussion and formed a taskforce to sort ways to implement the package”, said Muhith. The task force has been asked to submit their report within two weeks.

Representative from both Bangladesh Garment Manufacturers and Exporters Association (BGMEA) and Bangladesh Knitwear Manufacturers and Exporters Association (BKMEA) met the finance minister.

During the July-January period of the current fiscal, knitwear sector witnessed a decline in export growth of 13 percent and woven garment experienced 16 percent.

Clearing the confusion with respect to the package, the minister assured that all the exporters will receive incentives from the package.

As opposed to their earlier decision, wherein exporters with turnover above $3.5 million annually, were not eligible for government incentives, now over 1,500 garment exporters will qualify for cash incentives.

The Minister's assurance, that he will discuss the issue with the apex bank governor, about bank's reluctance to reschedule loan, brought a sigh of relief for the exporters.

Fibre2Fashion News Desk - India


Must ReadView All

Textiles | On 20th Jul 2017

Provide safety net for cotton growers: Congress to Trump

A bipartisan Congressional coalition has called attention of...

Courtesy: ITMF

Textiles | On 20th Jul 2017

ITMF'17 themed on tech, trade, climate in disruptive times

The International Textile Manufacturers Federation (ITMF), an...

Textiles | On 20th Jul 2017

RIL’s Q1 FY18 petrochemicals revenue up 22.9% y-o-y

Reliance Industries Limited (RIL) has reported its financial...

Interviews View All

Viral Desai
Zenitex Mill Pvt Ltd

Full of green energy

Md Hanifur Rahman
Aman Group

The level of understanding the job role and organisational requirements...

Pinkesh Jain
Everflow Petrofils Ltd

‘An innovative technology which India needs desperately is the...

Kai Poehler
Voith Paper GmbH & Co. KG

The glass mat industry is growing by five to eight per cent annually. Kai...

Iago Castro Asensio
RCfil Distribuciones S.L.

Iago Castro Asensio, International Business Manager of RCfil...

Mohammad Hassan
Biax Fiberfilm

About one in every 20 patients picks up an infection while hospitalised....

Prathyusha Garimella
Prathyusha Garimella

Hyderabad-based designer <b>Prathyusha Garimella</b> is known for blending ...

Aditi Somani
Aditi Somani

Aditi Somani specialises in luxury fusion wear with international cuts and ...

Karan Arora
Karan Arora

Bridal couture created with rich Indian heritage, exquisite craftsmanship...

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

July 2017

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

news category


Related Categories:

Planning to Take the Leap towards
Sustainability?

Do you see sustainability as a route to business growth?

Yes No

Do you think the sustainability space has the needed tools and resources available for a business to lead change?

Yes No

Do you think adopting a sustainable approach will be a profitable move for your business?

Yes No

Do you want the world to know about your sustainability journey and your business’ environmental footprint?

Yes No

Thanks for your valuable feedback. Claim your free latest sustainability e-book.


E-News Insight
Subscribe Today and Get the
Latest News Update in Your Mail Box.
Advanced Search



X