by Apparel Resources News-Desk
07-May-2019 | 1 min read
Bangladesh’s readymade garment industry has urged the Government to provide an additional 5 per cent cash incentive for next 3 years in the upcoming budget for 2019-2020 fiscal year.
This was recommended at the recently concluded Dhaka Chamber of Commerce and Industry (DCCI) conclave on ‘Sustainability of Ready Made Garments (RMG) Sector in Bangladesh’.
It is worth noting here that the garment exporters are already enjoying 12 per cent cash incentive.
Commerce Minister Tipu Munshi, who was present at the event, agreed that the industry needs more incentives. The stakeholders, at the event, suggested that re-skilling and new skills are essential to enhance the efficiency of the workforce. Besides, they also called for more investment on technology to increase productivity.
Osama Taseer, President, DCCI, said that the sustainability and competitiveness of the RMG sector may get impacted by increase in production cost owing to hike in salary and energy cost as well as declining international market price.
Dr. Rubana Huq, President, Bangladesh Garment Manufacturers and Exporters Association (BGMEA) said that the Government should focus on reducing the cost of doing business for RMG’s sustainability.
Share This Article