To support the survival and growth of the nation’s largest export industry, apparel industry leaders have identified three key priorities for the interim government: reestablishing peace and order, guaranteeing a steady supply of gas and power, and disciplining the financial sector.
They stated during a roundtable that Bangladesh’s apparel business has seen government incentives diminish, bank financing shrink, and the energy issue deepen, all at the same time that neighboring India announced fresh incentives for the clothing industry.
The heads of industry have demanded a comprehensive reworking of the tax code to eliminate bureaucratic burdens that greatly exceed the remaining marginal incentives for export industries.
“A regular government can’t do many things. We believe this revolutionary government can set the ground anew with business-friendly policies,” BKMEA Executive President Fazlee Shamim Ehsan said, sharing the industry’s worries about the growing risk of losing market share to competitors.
According to Khandoker Rafiqul Islam, president of the Bangladesh Garment Manufacturers and Exporters Association (BGMEA), the organisation is always open to considering workers’ reasonable requests. However, he claimed that the most recent wave of protests was motivated by unreasonable demands and that he hoped the army, other law enforcement, and the local populace would help resolve the matter.
The president of the Bangladesh Textile Mills Association (BTMA), Showkat Aziz Russell, stated that the three main concerns that the new government needs to take care of right away are the ease of financing, the guarantee of a continuous supply of energy and power, and the restoration of law and order.