BJA pushes for 20pc cash incentive
Sunday, 15 May 2011
Badrul Ahsan
Private jute millers have urged the government to raise cash incentive from existing 10 per cent to 20 per cent, enabling them to stave off the present crisis. The appeal from Bangladesh Jute Mills Association (BJA) came in a 15-point demand, which also include rationalisation of different tariffs and reduced rent rate on importing textiles machinery, finance officials said. The association has submitted a request letter to the Ministry of Finance, requesting the government to consider its demands in the upcoming national budget for 2011-2012. In an emotional plea to the Finance Ministry, they said, lack of adequate support from the government has threatened their existence. "Jute mills are facing a serious financial crisis due to apathy of the government. So we want rationalization of tariffs and sufficient incentives against exports," president of BJA Najmul Haq said. Due to the absence of cash incentives and lack of other support from the government, he said, it could snuff out huge prospects of the sector and also can destroy livelihood of hundreds of thousands of the people who are engaged in the industry. "Today we are facing serious financial constraints as different types of tariffs and power outage is weighing heavily on our profitability," he told the FE.
Private jute millers have urged the government to raise cash incentive from existing 10 per cent to 20 per cent, enabling them to stave off the present crisis. The appeal from Bangladesh Jute Mills Association (BJA) came in a 15-point demand, which also include rationalisation of different tariffs and reduced rent rate on importing textiles machinery, finance officials said. The association has submitted a request letter to the Ministry of Finance, requesting the government to consider its demands in the upcoming national budget for 2011-2012. In an emotional plea to the Finance Ministry, they said, lack of adequate support from the government has threatened their existence. "Jute mills are facing a serious financial crisis due to apathy of the government. So we want rationalization of tariffs and sufficient incentives against exports," president of BJA Najmul Haq said. Due to the absence of cash incentives and lack of other support from the government, he said, it could snuff out huge prospects of the sector and also can destroy livelihood of hundreds of thousands of the people who are engaged in the industry. "Today we are facing serious financial constraints as different types of tariffs and power outage is weighing heavily on our profitability," he told the FE.