BSS, Chittagong :
Commerce Minister Tofail Ahmed on Thursday declared 0.25 percent incentives for the ready made garments (RMG) factory owners to overcome the situation after the Tajrin Fashion and Rana Plaza disasters.
“The government has decided to cut down tax at sources from 0.8 percent to 0.3 percent and enhance the incentive to three from two percent for creating new products and markets thereby save nearly TK 1100 crore of the garments owners,” the Minister said.
The Commerce Minister announced this while formally inaugurating the three-day Chittagong Apparel, Fabric and Accessories Exposition (CAFAXPO) -2014 at M A Aziz Stadium Gymnasium this afternoon.
Speaking at the function the Minister said the country’s garments sector has been able to uphold the first position in Europe despite country wide yearlong violence unleashed by opposition parties.
“The government led by Banbandhu’s daughter Sheikh Hasina has decided that those who could continue their exports target despite yearlong violence would get incentive”, the Minister added.
The Minister said the government always feels the urgency to give more assistance to the industry for the sake of its balanced and steady growth particularly in this age of stiff trade regime.
The commerce Minister hoped that the current 22 billon US dollars earning from RMG sector will become nearly 50 billion US dollar by 2021 next if the current expanding trend continues.
Tofail urged the garment factory owners to ensure compliance in all garment industries across the country and basic rights of the workers to attract and please the foreign buyers on a larger scale to restore the GSP facilities of the USA.
The Minister also announced that the government has decided to do everything to get back GSP facilities of the USA.
Recalling the devastating fire incident at Tajrin Fashion and disaster at Rana Plaza the commerce minister pointed out that the compliance issue and rights of the workers in the RMG sector have prominently come before the buyers.
Tofail called upon the business entrepreneurs to make integrated efforts to turn Bangladesh into a number one Readymade Garments (RMG) exporting country in the world toppling China.
The commerce Minister declared that three garments villages including two in Chittagong will be set up very soon.
Speaking as the chief guest at the inaugural ceremony of the gala industry show of the RMG sector, the Commerce Minister said ‘Made in Bangladesh’ brand of Bangladeshi Garments Industries is now worldwide appreciated for its quality and commitment.
With BGMEA President Atiqul Islam in the chair, State Minister for land Saifuzzaman Chowdhury Javed and former city Mayor A B M Mohiuddin Chowdhury spoke at the function as special guests.
The inaugural function was addressed, among others, by first Vice President of BGMEA Nasir Uddin Ahmed Chowdhury.
The CAFAXPO- 2014, an annual gala show of RMG sector under the aegis of Bangladesh Garments Manufacturers and Exporters Association (BGMEA), is being held at CJKS Gymnasium here with the participation of 50 local and foreign enterprises in the trade to showcase their latest tools and technologies as well as services.
Besides, seminars on three separate topics related to the current state of country’s garments sector and subsequent global trend, live fashion show everyday at the exhibition venue with the participation of noted artistes are the main features of the CAFAXPO-2014.
