The Bangladesh Garment Manufacturers and Exporters Association on Saturday said that some of the proposals of the trade body related to reverberation of the readymade garment sector and generation of employment were not addressed in the proposed budget for the financial year 2021-22.
The BGMEA at a post-budget preconference held at the headquarters of the trade body at Uttara in the capital urged the government to reconsider the demand for 10 per cent cash incentive against export of non-cotton garments for the rebounding of the sector and to create new employment.
BGMEA president Faruque Hassan also urged the government to increase the cash incentive for exporting new markets to 5 per cent from existing 4 per cent saying that they demanded the facility to retain the export market amid the Covid pandemic.
The BGMEA president demanded specific allocation for the development of new skills in the RMG and textile sector to address the challenges of the 4th industrial revolution.
Faruque demanded that the government should continue the existing 0.50 per cent source tax on export for at least five more years.
The continuation of tax policy would encourage mid-term and long-term investment in the country.
The BGMEA also demanded withdrawing the 10 per cent tax on cash incentive as the RMG exporters were facing an acute shortage of cash amid the pandemic.
The trade body demanded specialised health cards for the RMG workers and bringing garment workers under Covid vaccination on priority basis to keep the economy alive.
The BGMEA president, however, said that the proposed budget would encourage industrialisation and employment as it proposed a cut in corporate tax and giving tax holiday for automobile and light engineering sectors.
Faruque urged the government to extend the tax net for meeting the target of revenue collection in the budget.
BGMEA senior vice-president SM Mannan Kochi, vice-presidents Shahidullah Azim, Md Nasir Uddin and Rakibul Alam Chowdhury, and directors Md Mohiuddin Rubel, Asif Ashraf and Md Imranur Rahman, among others, attended the press conference.
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