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

Indian govt approves special package for leather, footwear

Textiles | On 16th Dec 2017

Indian govt approves special package for leather, footwear

The Union Cabinet chaired by PM Narendra Modi has approved a special...

EU parliament resolution calls for Cambodia sanctions

Apparel/Garments | On 16th Dec 2017

EU parliament resolution calls for Cambodia sanctions

Following the ongoing crackdown in Cambodia on the opposition and...

Affordable prices to be hit if US pulls out of NAFTA: NRF

Apparel/Garments | On 16th Dec 2017

Affordable prices to be hit if US pulls out of NAFTA: NRF

US retailers’ ability to offer consumers quality products at...

Interviews View All

Anshul Sood
Oceedee

‘Indian footwear market is nascent and largely a trend follower’

Karel Williams
Dow Microbial Control

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

Headhonchos
Indian fashion industry

Organic the first choice of any environment-conscious person

Harsh Shah

Established in 1956 with a small beginning, Embee today manufactures a...

Harmeet Singh

New Delhi-based Jogindra Industries Private Limited provides an assortment ...

Abhishek Pachauri

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

Urs Stalder
Sanitized AG

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

Johan Berlin
InvestKonsult Sweden AB

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

Iago Castro Asensio
RCfil Distribuciones S.L.

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

Yash P. Kotak
Bombay Hemp Company

One of the directors of Bombay Hemp Company, Yash P. Kotak, speaks to...

Robert Brunner
Devereux

Golfwear and menswear brand Devereux is set for greener pastures. Robert...

Sidharth Sinha
Sidharth Sinha

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

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

December 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

Active Poll

Do you see sustainability as a route to business growth?

Yes
69.6%
No
12.0%
Skip
18.5%

Total Votes: 92

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

Yes No

Active Poll

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

Yes
62.0%
No
30.4%
Skip
7.6%

Total Votes: 92

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

Yes No

Active Poll

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

Yes
87.0%
No
9.8%
Skip
3.3%

Total Votes: 92

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

Active Poll

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

Yes
81.5%
No
8.7%
Skip
9.8%

Total Votes: 92


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