Addressing journalists in capital Dhaka not too long ago, the BGMEA chair highlighted that the business’s competitiveness and funding prospects could be severely impacted if coverage assist faltered.
Bangladesh Garment Producers and Exporters Affiliation has demanded continuation of money assist in upcoming finances.
BGMEA president SM Mannan emphasised necessity of money assist and authorities coverage assist to realize attire export targets.
He mentioned business hopes the federal government will proceed all cooperation like earlier than to assist obtain the targets.
Outstanding figures akin to former BGMEA presidents Atiqul Islam, Salam Murshedi, Siddiqur Rahman, and present board members attended the assembly.
SM Mannan mentioned, “We goal for $100 billion in garment exports by 2030, which requires sustained authorities coverage assist. With out this help, reaching our goal will probably be unattainable.”
He pressured the business’s hope for continued authorities cooperation to realize the objectives whereas additionally stating that the variety of factories straight exporting has declined from 5,000 to 2,200 and maintained that these factories are essential for sustaining and increasing exports and creating new jobs.
As the most important employment-generating sector, the garment business holds vital potential for financial revival and job creation within the nation.
The BGMEA president additional famous, “Our share within the international market is barely 7.87 per cent, presenting immense alternatives. Continued authorities cooperation will allow the garment sector to play a number one function in constructing a poverty-free, Sensible Bangladesh.”
He additionally urged the federal government to cut back the tax at supply on exports to 0.5 per cent from 1.0 per cent within the upcoming 2024-25 finances, sustaining this price for the following 5 years, to assist the business navigate crises.
Moreover, the BGMEA chair known as for a discount within the revenue tax deduction price on incentive money help from 10 per cent to five per cent, advocating for the continuation of incentives till 2029.
He additionally requested that uncooked supplies for the garment business be VAT-free whereas additionally demanding tax concessions on importing hearth and security gear for export industries and subsidised import charges for changing broken gear.
He additional urged particular funds for meals rationing for employees and assist for non-cotton garment export and funding.
Fibre2Fashion Information Desk (DR)
