Garment accessories should get cash incentive: Amu

Sun Online Desk

18th August, 2016 05:03:02 printer

Garment accessories should get cash incentive: Amu

Industries Minister Amir Hossain Amu on Thursday said apparel accessories and packaging manufacturers should get cash incentive from the government to make the sector more sustainable.


"Our government should come forward to accelerate the sector . . . I will discuss the issue with finance minister," the industries minister said while addressing as the chief guest a seminar at CIRDAP auditorium in the city.


Bangladesh Garments Accessories and Packaging Manufacturers and Exporters Association (BGAPMEA) organised the seminar titled "Lean Manufacturing in Garments Accessories and Packaging Industry of Bangladesh".


Senior secretary of Industries Ministry M Mosharraf Hossain Bhuiyan, project director of Bangladesh Inspired Sushen Chandra Das and senior research fellow of Bangladesh Institute of Development Studies (BIDS) Dr Nazneen Ahmed were present as special guests.


Among others, president and chief executive officer (CEO) of Trans World Resources Inc Professor Dr Feroz Iqbal Faruque spoke on the occasion.


Feroz Iqbal Faruque called upon the government to resolve all trade barriers prevailing in the sector such as value added tax (VAT), tax, customs, bond, bank loan and high borrowing rate of interest and providing cash incentive like other export sectors to help the garment accessories and packaging sector thrive.


Terming cash incentive a logical demand, Amir Hossain Amu said the government will provide all kinds of policy supports to help boost the accessories and packaging segment.


The minister said modern garment accessories and packaging industry is necessary to materialise the target of US$50 billion readymade garments (RMGs) export by 2021.


The National Industrial Policy-2016 has identified the apparel and home textiles as priority sectors, he added.


He expressed the hope that RMG can reach the highest peak of prosperity through diversification of backward linkage RMG products.


Bangladesh is moving forward under the leadership of Prime Minister Sheikh Hasina, he said, adding that the government is establishing special economic zones to attract foreign investors.