Provide 5% cash incentive against dollars, new demand of RMG sector

by Apparel Resources News-Desk

11-December-2019  |  1 min read

Garment Industry
Image Courtesy: labourbehindthelabel.net

Faced with continuing export reversals, which to a large extent experts believe is due to lack of currency value correction, the readymade garment industry of Bangladesh has recently placed a demand with the Government seeking 5 per cent cash incentives against dollars.

As per media reports, President of the Bangladesh Garments Manufacturers and Exporters Association (BGMEA) Dr. Rubana Huq recently placed the demand for the cash incentives against dollars at a meeting with the Finance Minister AHM Mustafa Kamal against the backdrop of falling export incomes for the last 4 consecutive months, in which former BGMEA President and current Commerce Minister Tipu Munshi, was also present.

Meanwhile, the Finance Ministry has reportedly decided to send officials to 4 countries – India, Thailand, Vietnam and Indonesia – to assess the feasibility of the demand made by the country’s readymade garment exporters for 5 per cent cash incentive against dollars they earn.

Finance ministry officials said that the officials, each of whom would visit one country, were mainly tasked with assessing the measures taken by India, Thailand, Vietnam and Indonesia in providing incentives to their respective apparel sectors.

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