Home / Knowledge / News / Apparel/Garments / Govt sanctions another Tk 1 billion for RMG exporters
Govt sanctions another Tk 1 billion for RMG exporters
30
Nov '10
Bangladesh Finance Minister, AMA Muhith recently revealed that, the government has sanctioned Tk one billion, an additional incentive for small and medium scale readymade garment exporters, so as to help them to boost their competitiveness in the international market.

The incentives will be provided to those apparel firms which fit in the category of small and medium enterprises, and have exported goods valuing up to $3.5 million.

Though, the Minister did not throw any light on the time and mode of disbursal of these funds amongst the claimants.

The Minister was speaking at the launch of the three-day BATEXPO-2010, and apparel and textile expo held at Dhaka's Bangabandhu International Conference Centre. Each year the Bangladesh Garment Manufacturers and Exporters Association (BGMEA) hold this event.

Muhith further said that, they are rigorously looking forward to construct houses for apparel workers.

In the past also, the Minister rolled out a stimulus package of over Tk 10 billion to help the exporters to restore from the effects of the global economic meltdown.

He also informed that the government is to add another 2,000 megawatts of extra power to the national grid by January 2011, in order to lessen the power crisis.

Abdul Latif Siddiqui, Bangladesh's Textiles and Jute Minister stated that, a proper bonding between the workers and company owners is crucial for the success of any industry. He further urged the factory owners not to jeopardize the state by overloading it with sick industries.

Labour Minister Khandker Mosharraf Hossain stated that, a number of workers are not getting the wage they are entitled to, and added that, it is not the workers, but some of the people with vested interest who are to be blamed for arson attacks on garment units.

Meanwhile, Commerce Minister Faruk Khan, recommended that the garment workers should try to come out with new fashion and designs, besides preparing garments, so as to get hold of a larger share of the international market.

Bangladesh, by now has been able to get hold of just three percent of the world's overall apparel business worth $400 billion. At present, the country can invest in few countries of Africa so as to grab new markets.

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

Veronique Lee
Modavanti

‘Sustainable fashion is trending upwards, slowly but surely, as people...

Smith Vaghasia
Sanado India

Online remains the best destination for shopping

Nuno Venda
ROQ

‘There has been an increase in demand for water based inks, rather than...

Riddhi Jain

Conceived in Europe and curated in New Delhi, NeceSera is a...

Rikesh Mistry

Jupiter Comtex Pvt Ltd, established in 1973, started its textile machinery ...

Erik Sy

Manila-based CustomThread is a start-up offering premium custom apparel...

Kevin Nelson
TissueGen

Kevin Nelson, Chief Scientific Officer, TissueGen discusses the growing...

Eric Scholler
Groz-Beckert

The Indian market has huge potential in technical textiles, and by far,...

Eamonn Tighe
Nature Works LLC

Eamonn Tighe, Fibres and Nonwovens - Business Development Manager of...

Judy Frater
Somaiya Kala Vidya

Among the many honours showered on Frater, including Fulbright and Ford...

Aditi Somani
Aditi Somani

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

Mike Hoffman
Gildan Activewear SRL

Gildan Activewear, a manufacturer and marketer of branded clothing 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