In what is seen as a move that would give a further boost to Bangladesh garment sector’s green endeavour, the country’s National Board of Revenue (NBR) has, reportedly, proposed allocating another US $ 200 million for the Green Transformation Fund (GTF) to help export-oriented textile and leather manufacturing industries set up environment-friendly facilities.
Media reports maintained this citing sources within the NBR and the Finance Ministry.
It may be mentioned here that the Bangladesh Bank earlier had another similar fund only for financing green building even as the GTF is intended to, reportedly, facilitate access to financing in foreign exchange by all manufacturers, exporters in export-oriented leather manufacturing and textiles and textile product sectors to import capital machinery and accessories for implementing environment-friendly initiatives.
Meanwhile, speaking to the media, President of the Bangladesh Textile Mills Association (BTMA), Mohammad Ali Khokon, reportedly, welcomed the move and maintained that it was a good initiative, which might help strengthen the backward linkage industry even as he called upon the Government to give priority to the woven sector as the country (Bangladesh) still imports 60 per cent of woven fabrics.
