Bangladesh Garment Manufacturers and Exporters Association (BGMEA) demanded 3.0 per cent cash incentive for the garment sector instead of 1.0 per cent which was proposed in the budget for 2019-20 fiscal year (FY20).
"There's an estimated 1.0 per cent incentive in the proposed budget that's not enough for the industry. So, we demand 3.0 per cent incentive to meet our challenges and compete in international markets," BGMEA President Rubana Huq said at a press conference on the proposed budget at a city hotel on Sunday.
This is very good that an amount of Tk 743.67 billion has been allocated for social safety net, Rubana Huq said hoping that apparel sector workers would be brought under the social safety net programme, according to UNB.
She also said the proposed budget is business- and people-friendly one. "But we cannot be 100 per cent happy with it. We're 70 per cent happy at the budget."
"We're facing many challenges in product diversification, improving image crisis, technological development, innovation and value edition. Our orders have been reduced as consumers demand changed in global markets," she said.1