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BGMEA seeks CIP status for all its board members

FE Report | June 27, 2019 00:00:00

Bangladesh Garment Manufacturers and Exporters Association (BGMEA) urged the government recently to accord all of its office bearers with the status of Commercially Important Person (CIP).

It argued that the status would help the office bearers execute their respective duties for the industry properly, officials said.

BGMEA president Dr. Rubana Huq raised the issue with commerce minister Tipu Munshi recently, seeking the tenure of the status up to April 2021.

When contacted, the president said: "We represent the country's entire apparel sector. Thus, all directors of BGMEA should kindly be given the CIP status considering our contribution to the country's economy. This will be post based, not name based."

An official at the commerce ministry said, "We received a letter from the BGMEA in this regard. We are working on the issue."

Currently, the BGMEA is run by a 35-member board of directors. The board is elected for a two-year term.

Industry insiders said that considering the export earnings and employment generation, the government should award the CIP status to the 35 members of the BGMEA committee.

They said the leaders of the apparel sector have to work with different state entities, including different ministries and foreign organisations. So, the status would be helpful in execution of their respective duties, they added.

Presently, more than 80 per cent of the country's export earnings come from the apparel sector. The total export income stood at US$ 36.66 billion in the fiscal year (FY) 2017-18. Of which, the readymade garment (RMG) sector alone earned $ 30.61 billion.

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