Bangladesh govt considering fresh stimulus for apparel industries


Bangladesh government is considering announcing incentive for the country’s readymade garment sector taking not of the deteriorating business situation of the sector due to the second wave of Covid-19 outbreak.

‘We may consider incentives for the readymade garment sector amid the second wave of the COVID-19 outbreak and the loan repayment time under the existing package should be increased,’ commerce minister Tipu Munshi said.

He was inaugurating ‘Go Human Go Green’, an initiative taken by the Bangladesh Garment Manufacturers and Exporters Association.

Munshi said that the BGMEA requested the commerce ministry to consider incentives like the exiting stimulus package and increase the tenure for repayment of stimulus loans due to the second wave of Covid-19.

‘We have requested the finance ministry to take a positive stand on any new incentive for the RMG sector,’ the commerce minister said.

According to cabinet secretary Khandker Anwarul Islam, a fresh stimulus package might be considered as it would be difficult for the export sector to come out from the fallout of the coronavirus outbreak in one or two years.

He, however, said that facing challenges of the fourth industrial revolution would be tougher than those of the COVID-19 for Bangladesh.

He feared that more than 53 lakh people might lose their jobs as the existing education and skills were not appropriate to face the challenges of 4th IR.

THe president of BGMEA made seven pledges under the ‘Go Human Go Green’ in line with the vision of Sustainable Development Goals.

The pledges include the issues of workers’ education, early childhood learning of workers’ children, mental health of workers, sustainability, culture export of Bangladesh, workers’ health, and industry innovation and efficiency.

The BGMEA president said that 70 female garment workers had been given chance to pursue their graduation at Asian University of Women with the assistance from the respective factory  owners towards meeting the needs of their educational expenses.

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