Bangladesh Garments Manufactures and Exporters Association (BGMEA) has urged the government to offer 5 per cent cash incentive to the industry and also demanded withdrawal of all duties and taxes for a year in the wake of continuous price fall for RMG products in the export market.BGMEA President Md Siddiqur Rahman made the plea on Wednesday at a press conference at its new office in the city’s Uttara Model Town. He said, “Everyday our costs of doing business is increasing and at the same time prices of products are declining.”The outgoing president said, “Our competitor countries are providing different facilities to their garment exporters to survive tough competition in the international market which ranges subsidies from utility services to currency devaluation and withdrawing duties on import of raw materials.He said, “On growing demand we have raised workers salaries. At existing bank rate our costs are becoming higher but income from exports is not increasing and even we are counting losses.” He further said, “Some factories are already facing trouble and they may not continue production with existing higher costs.”He said, “We want the cash incentive only for readymade garment exporters and for year. In the meantime the overall scenario may change in the international market,” he said making his claim on temporary basis. The BGMEA president said, “In compare with our neighbors which are also our competitors, we are getting less because of our over-valued local currency against foreign currency. He demanded devaluation of taka against dollar which may help exporters to get more for exports in local currency to pay for higher wages and other rising costs.”
