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Govt not to give cash subsidy to knitwear sector
28 Apr '06
1 min read
Knitwear sector's demand for 15 percent cash subsidy has been rejected by M Saifur Rahman, Finance and Planning Minister saying that it impedes industrial competitiveness.
Rahman said that entrepreneurs should progress without subsidy and with the spirit of competition to survive in international markets.
He also viewed that knitwear industry has been progressing taking into consideration global competition with the end of quota regime and should survive in global market.
He stated that the knitwear sector will earn US $4.0 billion in exports in the current fiscal as against $2.81 billion the previous year.
Rahman told entrepreneurs that they should consider workers' welfare and progress.
Md Fazlul Hoque, President of Bangladesh Knitwear Manufacturers and Exporters Association (BKMEA), said that country is facing competition from Indian exporters and a 15 percent cash subsidy will enable them to sustain in competititive environ as Indian Government is giving 25 percent subsidy to their knitwear sector.
Rahman said that entrepreneurs should progress without subsidy and with the spirit of competition to survive in international markets.
He also viewed that knitwear industry has been progressing taking into consideration global competition with the end of quota regime and should survive in global market.
He stated that the knitwear sector will earn US $4.0 billion in exports in the current fiscal as against $2.81 billion the previous year.
Rahman told entrepreneurs that they should consider workers' welfare and progress.
Md Fazlul Hoque, President of Bangladesh Knitwear Manufacturers and Exporters Association (BKMEA), said that country is facing competition from Indian exporters and a 15 percent cash subsidy will enable them to sustain in competititive environ as Indian Government is giving 25 percent subsidy to their knitwear sector.
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