Brands Bangladesh Bank ‘bogus’
Finance minister AMA Muhith on Wednesday outright rejected the demand for introduction of special exchange rate for apparel exporters saying such demand was unacceptable.
The apparel exporters had demanded additional Tk 3 against exchange rate of a US dollar as incentive. The finance minister, however, assured them of considering other demands placed by the apparel exporters at a meeting at the ministry of finance against the backdrop of ongoing political unrest that has affected the country’s number one export sector and other businesses.
The demands include arrangement of a special loan package including low-interest credit for paying workers’ wages and blocking of term loans without any interest for next two years.
The readymade garment exporters wanted relax of rules of loan classification for two years and waiving of additional charges at Chittagong port.
Putting pressure on the successive governments by the RMG exporters for additional incentives is a common phenomenon. Last month the government lowered the export tax slightly in addition providing cash incentive.
Muhith said he needed to talk with the government agencies for taking decisions regarding the new demands.
He strongly criticised the Bangladesh Bank officials calling them bogus.
He said a demand by the RMG exporters for incentive against telegraphic transfer should have been already implemented by the central bank.
He said the present government will not pass any new law under which an exit plan could be adopted for the owners who are unable to run their factories.
Leaders of the Bangladesh Garment Manufacturers and Exporters Association, Bangladesh Knitwear Manufacturers and Exporters Association and Bangladesh Textile Mills Association attended the meeting.
President of FBCCI, the apex chamber body, Kazi Akram Uddin, finance secretary Fazle Kabir and revenue board chairman Ghulam Hussain were also present.
The RMG exporters and the business leaders condemned the political leaders for failing to reach a consensus over the poll-time government. Opposition political parties wanted a neutral government and enforced frequent blockades to realize the demand.
They said production in the RMG factories reduced by 10 per cent while growth of the sector stood at only 2 per cent in last October.
The exporters said they were forced to send 1,32,000 tonnes of apparels in air freight and incurred loss of Tk 4,000 crore between January and September.
The business leaders said the RMG exports are facing a lot of challenges including political instability, labour unrest and implementation of the new wages with 76 per cent hike.
FBCCI president Kazi Akram Uddin Ahmed said he would like to see the finance minister resolving the problems of the garment exporters.
He hoped that the country’s RMG sector would flourish further and there was no need of any exit policy.
-With New Age input
