EAB for stable power, gas supply to keep positive export growth

Uninterrupted electricity and gas supply, rational bank interest rates, cash incentives and tax waiver can help retain the country's positive export growth, said leaders of the Exporters Association of Bangladesh (EAB) Wednesday. "The government has been giving the exporters necessary supports, and we have fulfilled the government's export targets," EAB President Mr Abdus Salam Murshedy told the media after a meeting with Commerce Minister Muhammad Faruk Khan at his office. "If we get some budgetary support from the government, then the export of the country may reach US$ 35 billion in near future." "Our export performance is well despite the global recession. We request the government to formulate the upcoming budget by considering the country's export interest," he said. He said the export might face setback, if the government fails to provide new power and energy connections to the factories, lying idle for long due to shortage of utility services. He also suggested the government to build special industrial zones outside the capital. The EAB submitted a number of recommendations to the minister, like - reduction of furnace oil price, providing incentives to jewellery and diamond industries, and withdrawal of import duties from capital machinery. Their pleas also included allowing export of aromatic rice and import of covered van, developing human resources, establishment of a packaging industry, providing ration to the garments workers, issuance of unified dollar rates by all the banks to the exporters, and relocation of major industries from the capital. The Commerce Minister said he would discuss the pleas of the 22-member EAB delegation with the ministries concerned. About providing new electricity and gas connections to the industries he said, "I have already told the ministry concerned that there should be a quota for providing new connections of utility services to the industries, which is expected to start from the next month." "The interest rate of the banks should be rational. It must come down to a single digit," he said. Regarding tax waiver and incentives from the government, he said, "The government provides cash incentives from the money of people's taxes. You ask us to provide cash incentives and also seek tax waiver facilities. So, there should be a balance." Faruk Khan said, "We have been trying our best to simplify the tax system." He also called upon the businessmen to be honest and committed to maintain the quality of their exported items. The EAB will hold a press conference on their budget proposal today (Thursday) at the Pan Pacific Sonagaron Hotel.