Close on the heels of Finance Minister AHM Mustafa Kamal presenting the National Budget before the Parliament on 1st June, the apex garment makers’ body of the Bangladesh Garment Manufacturers and exporters Association (BGMEA) has alleged there were no clear directions for the growth of the apparel and textile industry in the same.
This was underlined by BGMEA President Faruque Hassan while addressing a press meeting recently even as he claimed many of BGMEA’s proposals were not accommodated in the proposed budget while adding the garment makers’ body had demanded setting source tax at the rate of 0.50 per cent in the budget considering the sector’s struggle towards making a rebound following fallouts of the COVID-19 pandemic and demand for garments going south in the global market on account of rising inflation caused by the continuing Ukraine-Russia conflict.
He further reportedly added many garment factories in Bangladesh were running under capacity on account of declined work orders.
