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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


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