Finance Minister AMA Muhith said Saturday it was time for the apparel industry, which has become matured enough by now, to offer some benefits to the government. He said: “The government has been providing different incentives and fiscal benefits to the garment sector since the beginning. The RMG sector is now matured enough.” The RMG sector has been receiving various types of incentives from the government as it has been the largest job creating sector, he said at a pre-budget discussion meeting on ‘Job creation: The biggest challenge’ in the city. The Economic Reporters Forum (ERF) organised the discussion at the National Press Club in the city. Policy Research Institute (PRI) executive director Dr Ahsan H Mansur, Centre for Policy Dialogue (CPD) executive director Prof Mustafizur Rahman, Bangladesh Institute of Development Studies research director Dr Binayek Sen, Bangladesh Textile Mills Association (BTMA) vice president Fazlul Huq, American Chamber of Commerce in Bangladesh President Aftab Ul Islam, Bangladesh Reconditioned Vehicles Importers and Dealers Association (BARVIDA) president Abdul Hamid Sharif and Dhaka Stock Exchange Managing Director Swapan Kumar Bala took part at the discussion. Muhith said the Bangladesh economy this year has demonstrated greater resilience in the face of political turmoil. “We will take measures to further strengthen the capacity of resilience of the economy so that it can withstand fallout from political troubles even better” he said. Muhith hinted that the next budget would enhance the allocations for the social safety-net programmes especially on the small livelihood programmes, already tested for getting a big boost with small investment. The finance minister expressed his dissatisfaction at the inadequate foreign direct investment (FDI) inflow saying: “I have been emphasising on the greater FDI inflow for the last few years. But nobody has lent support to me. Please you (private sector) people extend your help towards me in my effort for attracting FDI.” Ahsan H Mansur said ensuring good governance is imperative for attracting the second generation local investors. “Now the second generation businessmen are in the driving seat. Most of them had their education abroad. If the government fails to ensure good governance, this new generation entrepreneurs will not stay in the country,” he expressed the fear. Mustafizur Rahman said if the government wanted to create more quality jobs in the country it would have to ensure quality education, especially technical education for its young population. Dr Binayek Sen said the government has invested enough in female education. But participation of women in the productive sector jobs is well below the expectation. The government should invest in creating skilled manpower especially at the tertiary level of education so that more people could take up jobs in the productive sectors directly. Aftab Ul Islam said the government has so far failed to attract FDI as the country is suffering from an image crisis due to recurrent political turmoil. He emphasised the need for ensuring a stable political situation and business environment in the country. ERF president Sultan Mahmud presided over the discussion meeting. ERF general secretary Sajjadur Rahman gave vote of thanks.
Source: https://www.thefinancialexpress-bd.com/2015/05/24/93881
