http://www.newagebd.com/2009/jan/23/nat.html#1
Cell to monitor effects of global meltdown on RMG industries
Staff Correspondent
The government will form a special cell to actively monitor the various effects of the global financial turmoil on Bangladesh’s export industries and also take action to remove the barriers that block their further growth.
Sources concerned told New Age that, as hinted at a meeting of the finance minister with garment exporters on Thursday, he will head the cell comprising experts and representatives of various ministries and trade bodies.
When contacted the president of the Bangladesh Garment Manufacturers and Exporters Association, Anwar Ul Alam Chowdhury Parvez, admitted that the finance minister had assured them that such a platform, a special cell or taskforce, would be formed within a week or two.
According to him the minister said that the proposed cell would concentrate on the ongoing financial crisis in Bangladesh’s major export destinations. ‘The cell will also work out and attempt to reduce the cost of finance and the high rates of interest, and remove other barriers that hinder the further growth of the export industries,’ said Parvez.
The BGMEA delegation told the finance minister that garment exporters are struggling hard as the recession-hit importers are slashing the prices of garments continually.
They asked the government to support them with cash incentives to enable them to offset the impacts of price cuts and stay competitive in the global garment market.
‘We proposed funds from an Export Performance Benefit Scheme or Research and Development Fund Scheme, similar to what the Indian and Pakistani governments offer to their exporters,’ said Parvez.
He also proposed that if the food rationing programmes are not possible, the government should arrange distribution of foodstuff at cheaper prices to garment workers under the Vulnerable Group Feeding programme.
According to meeting sources the finance minister assured exporters that the government would help to set up Special Economic Zones to accommodate smooth installation of new industries. He also assured them that the long-pending Garment Village project would be expedited.
Mahmud Hasan Khan, vice president of the BGMEA, and directors Faisal Samad, Abdus Salam Murshedy and ABM Shamsuddin also attended the meeting.
