Budget:BGMEA wants 10pc cash incentive on non-cotton based garment exports

Bangladesh Garment Manufacturers and Exporters Association (BGMEA) urged the government to observe some of its proposals, including a 10 per cent cash incentive for non-cotton based garment exports. BGMEA President Faruque Hassan made the call at a post-budget press conference in the BGMEA new complex on Saturday.

According to BGMEA, world consumption of non-cotton based textile items is 75 per cent and the demand is increasing 3.0-4.0 per cent annually.

BGMEA President addressed this proposed budget is business eco-friendly. In the proposed budget, demands included the withdrawal of 10 per cent tax on cash incentive, increasing the existing incentive to 5.0 per cent from the existing 4.0 per cent for exports to non-traditional markets and continuation of 0.50 per cent source tax for the next five years.

BGMEA Sr. Vice President, S.M Mannan Kochi, Vice President, Md. Shahidullah Azim, Vice President (Finance) Khandoker Rafiqul Islam, Vice President Md. Nasir Uddin, Miran Ali, Rakibul Alam Chowdhury and Director, Barrister Shehrin Salam Oishee, Imranur Rahman , Md. Mohiuddin Rubel were present at the press conference .