BGMEA wants 5% cash incentives on export for 2yrs

Bangladesh garment industry owners have urged the government to provide 5% cash incentives on apparel export for the next two years. Bangladesh Garment Manufacturers and Exporters Association (BGMEA) President Md Siddiqur Rahman made the demand at a press conference Saturday. The conference, titled “Present Situation of the Country’s Apparel Industry and Forthcoming Budget for Fiscal Year 2017-18”, held at BGMEA headquarters in Dhaka. The proposal was made to facilitate the BGMEA and Bangladesh Knitwear Manufacturers and Exporters Association (BKMEA) members only. BGMEA President Siddiqur also called for exemption of tax at source from the apparel sector for at least for two years and slashing corporate tax to 10% from the existing 20% for the five years starting next fiscal year. “All the policy for the garment sector should be made for a minimum five-year period as yearly changes in policy create a lot of problems in running our businesses,” he said.