Jute sector to get incentives in bailout package
Friday, 17 April 2009
The jute sector will get the same treatment as the RMG sector in the coming up bailout package, assured the Jute and Textile Minister Abdul Latif Siddiqi, reports UNB.
He said that the jute sector would be given the similar incentives like the RMG sector. Jute mills, both public and private, will get the benefit of the bailout package.
The minister said the bailout package would be announced by April 20 to face up the on-going recession.
Finance Minister Abul Maal Abdul Muhith Wednesday hinted that the government would announce a stimulus package for the exporters hit hard by the global recession by April 20.
He assured special bailout package that would be applicable for the exporters affected by the global financial crisis.
Meanwhile, Commerce Minister Faruk Khan on the same day said the government would announce a bailout package of Tk 2500-3000 crore for the businessmen affected by the global recession.
Responding to a question, Jute Minister Abdul Latif Siddiqi said that he thinks that the recession will not continue more than a year. "I think we would overcome the affect of the recession within one year."
Recently the World Bank in a statement said that export of jute goods declined by 18.1 per cent due to the worldwide economic meltdown.
Siddiqi assured that the government would continue the stimulus package through out the recession period whatever time it took.
He said that the jute sector would be given the similar incentives like the RMG sector. Jute mills, both public and private, will get the benefit of the bailout package.
The minister said the bailout package would be announced by April 20 to face up the on-going recession.
Finance Minister Abul Maal Abdul Muhith Wednesday hinted that the government would announce a stimulus package for the exporters hit hard by the global recession by April 20.
He assured special bailout package that would be applicable for the exporters affected by the global financial crisis.
Meanwhile, Commerce Minister Faruk Khan on the same day said the government would announce a bailout package of Tk 2500-3000 crore for the businessmen affected by the global recession.
Responding to a question, Jute Minister Abdul Latif Siddiqi said that he thinks that the recession will not continue more than a year. "I think we would overcome the affect of the recession within one year."
Recently the World Bank in a statement said that export of jute goods declined by 18.1 per cent due to the worldwide economic meltdown.
Siddiqi assured that the government would continue the stimulus package through out the recession period whatever time it took.