Uninterrupted power supply and timely disbursement of cash incentive are the major prerequisites for achieving the huge $4.87 billion export target given to the knitwear sector, entrepreneurs said Monday.
They said the knitwear sub-sector of the apparel industry would have to be kept out of any kind of political activities as the sector is leading the country's export basket.
'We have earned about $1 billion more in fiscal 2005-06 than the previous fiscal year. So, it is not impossible to increase the earning by another $1 billion this fiscal (as well),' said M Fazlul Hoque, president of Bangladesh Knitwear Manufacturers and Exporters Association.
Keeping pace with the growth in exports, the government on Thursday set an export earning target of $12.5 billion for the current fiscal (2006-07). The target for knitwear sector has been raised to $4.87 billion from last year's income of $3.81 billion.
Fazlul Hoque, while talking to the news agency, said that achieving the $4.87 billion export target would largely depend on certain measures by the government.
'Uninterrupted power supply is a major prerequisite for achieving the target. Also the government will have to disburse cash incentives in time to facilitate our export,' he said.
South Asia Logistics announce that the knitwear boss informed that the government has been providing the sector five per cent cash incentive, but around Tk 500 crore remains unpaid, hampering the sector's growth.