BGMEA laments duty on textile machinery, BSIA seeks subsidy

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FE Report
Bangladesh Garment Manufacturers and Exporters Association (BGMEA) in its budget reaction has welcomed the proposal of 5.0 per cent cash incentive for the country's composite industries.
The BGMEA said the budget has proposed to raise the bond facilities for a period of two years, which the apparel body claimed would help add an impetus to the sector.
The BGMEA said the directives for simplification of customs procedures would also benefit the sector largely.
The allocation of Tk 200 million for creating a fund for the garment workers will help raise the workers' efficiency level, it observed.
But it mentioned that the imposition of import duty on textile machinery would have a negative impact on the industry.
The budget also has no directive for the 270 sick industries, it lamented.
On the other hand, Bangladesh Sick Industries Association (BSIA) in a press release also expressed their worry as the budget gave no directive for the sick industries.
The BSIA urged the government to allocate Tk 3.0 billion in subsidy for the sick industries.