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If the local spinners and fabric manufacturers are not aided, the net export earning garments sector will also lose its viability

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Budget 2022-23

Finance Minister AHM Mustafa Kamal has unveiled a Tk678,000 crore national budget for the 2022-2023 fiscal year. Young generation factory owners shared their opinion on proposed budget.

Ashikul Hoque, Director(Opt), Ashik Composite Textile Mills Ltd

Photo:Ashikul Hoque, Director(Opt), Ashik Composite Textile Mills Ltd

We are still focusing on big mis-directed budgets. Our implementation has always been plagued with inefficiencies and inadequate foresight. Covid and and post-covid has put tremendous pressure on our local fabric manufacturers. Cost and availability of cotton has not drastically increased yet this sector has not been provided any form of government aid.

If the local spinners and fabric manufacturers are not aided , the net export earning garments sector will also lose its viability. Mill owners are struggling to meet production costs with ever increasing wages and gas crisis. Why is our government turning a blind-eye towards the private sector? Crowding out the private sector with big budgets is a recipe for disaster.