The budget is not enough to face the challenges of the industry
BGMEA President Dr Rubana Huq has said this year ready-made garments industry received maximum allocation of budget in past ten years, but still minimal to what is required.
She said at a press briefing, as a reaction after the national budget for fiscal year 2019-20 was declared on Thursday.
In this year’s budget, Finance Minister AHM Mustafa Kamal has proposed an increased budget of Tk825 crore for the garment sector, with 4% increase in export incentives and 1% increase of incentives in other sectors of the industry.
Rubana said: “The allocated budget is very minimal for the kind of challenges this industry is facing. A 3% increase in incentives would have done the job.”
“We suggested a budget allocation for garment workers social security but it is not seen. I would request to include their social security in the budget proposed,” she added.
Read the full budget speech for FY20 here.