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BGMEA urges govt for support in next budget

Garment manufacturers called upon the government for support to the apparel industry in the upcoming budget, saying that otherwise it would be difficult for the sector to remain competitive in the global markets.
The call was made at a press conference organized by BGMEA on 27 May.
In his address to the media, BGMEA President Md. Siddiqur Rahman urged the government to withdraw of tax at source for next two years, reducing corporate tax to 10 percent for five years. He also called upon the government to ensure policy stability for investment.
He said that the RMG industry has been facing a number of challenges, including fall in apparel prices, increase in production cost, and strong currency against dollar, which have slowed down the growth. 
Siddiqur Rahman said that production cost has increased by 18 percent in the last two years while prices of apparel items exported by Bangladesh have fallen by 40 percent in the last 15 years. Besides, there is huge pressure of remediation works in the factory. Against this backdrop, the RMG industry needs the support from the government to retain competitiveness in the global market.
BGMEA Vice President (Finance) Mohammed Nasir, Vice President Mahmud Hasan Khan (Babu) and Directors were also present at the press conference.

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