Government Policy

BGMEA demands fresh stimulus package

Bangladesh Garment Manufacturers and Exporters Association (BGMEA) has demanded a new stimulus package to pay wages of employees regularly following the damage borne by the sector in light of COVID-19.

“We request the government to prolong the tenure of the stimulus packages. Alongside this, we also request to consider new stimulus packages to help the industry survive,” BGMEA President Dr Rubana Huq on Monday at a virtual press conference.

She added the apparel sector is a driving force of the country’s economy.

Dr Rubana said the decline in exports in recent months amid COVID-19 pandemic is a cause for concern for the garment industry.

“Due to the coronavirus pandemic, the export of readymade garments has decreased by 34.72 percent in the period from March to July this year. Although there was a slight increase in exports in August and September, but it was again threatened by the second wave of covid-19,” she added.

She said the export has come down 7.78% in October compared to the corresponding period last year to the markets of USA, Germany, Span, France, Italy and Japan. Besides, the export reduced 6% during November 1 to 20.

“Although we are in second position in the global market to export our products, our market share is only 6.8%. So we have a chance to expand our market there,” she further said.

Source: United News of Bangladesh