BKMEA seeks to know govt stance on stimulus package
FE Report

The country's knitwear manufactures demanded to know Saturday whether or not they will get any share from the proposed stimulus package.
"We want a clear-cut announcement whether we will be entitled to receive any money or not," Md Fazlul Hoque, president of Bangladesh Knitwear Manufacturers and Exporters Association (BKMEA) said at a press conference in the city.
Finance Minister AMA Muhith in his budget speech on Thursday proposed for allocating Tk 50 billion to tackle the effects of the global recession.
Mr Fazlul said they will suffer much if they wait for long for the allocation adding: "Say yes or no, if yes then what would be the size of the package?"
He claimed many entrepreneurs are running their plants much below break-even costs hoping they will get financial support from the government.
"If the government allocates nothing, owners of the factories will take their own decisions whether they will run their business or not," he added.
"I feel really ashamed of harping the same tune over the past few months. End this episode, please," BKMEA president added.
BKMEA, a group of over 1300 knit factories, slammed the government for ignoring the export oriented sector saying : "Who will be buyers if the purchasing power of the local people diminishes following reduction in the export?"
The finance minister in its budget speech said : "We have to expand our domestic and regional market for our goods and services by reducing dependence on export."
Fazlul said such statement on the export in the budget might create 'confusion' saying : "It might bring a bad signal in the shipment."
BKMEA leaders, however, said this is the right time to take actions to expand capacity through stimulus package or new investment so that local knit manufacturers might come back in the world market after recession.
"Yes, we might be a good beneficiary during post recession. But we need investment and government support for this," Mr Fazlul added.
BKMEA claimed that a large number of small and medium factories might face serious setback due to lack of fund resulting in retrenchment of thousands of jobs.
Contradicting the finance minister regarding policy support on export earning sector, Fazlul said apparel sector has been enjoying duty free import of raw materials over the past two decades.
He said: "We did not see any new policy support in the proposed budget.".