Minister Munshi promises apparel businesses more stimulus if needed

Commerce minister Tipu Munshi said the government would consider providing the second stimulus package for businesses, especially for the apparel sector, if the situation demands.

"It depends on the situation whether the government will provide more funds under the new stimulus package," said the minister.

Mr Munshi also said the Bangladesh Garment Manufacturers and Exporters Association (BGMEA) has already written to the commerce ministry seeking the fiscal policy support.

"We (commerce ministry) have also written to the finance ministry to consider it positively," said the minister.

He disclosed this while responding to questions from reporters at a virtual programme on Saturday, organised by the BGMEA to launch its seven pledges under an initiative titled 'Go Human, Go Green.'

The apex trade body of the readymade garment sector introduced the new initiative comprising seven pledges aimed at making the sector sustainable, human resource-oriented and environment-friendly.

The minister said the government is considering the need for more stimulus packages with an open mind.

He also underscored the need for considering the extension of repayment period for the funds already disbursed under the stimulus package to give the apparel sector a breathing space.

Cabinet secretary Khandker Anwarul Islam joined the virtual programme as the special guest.

Responding to a query on the stimulus package, the cabinet secretary said the government organised several open dialogues with cross sections of people last week.

"We are taking suggestions from business people and experts to support the businesses through fiscal measures," he said.

He underlined the need for adopting the new technologies like robotics, automation and other components of the fourth industrial revolution or 4IR.

BGMEA president Rubana Huq said the association introduced the initiative in tune with the government's efforts to achieve the Sustainable Development Goals (SDGs).

The initiative constitutes seven pledges aimed at enhancing living standards of the workers by offering them the opportunity to receive higher education, ensuring wellbeing of their kids at the workplaces, and support mental health.

She said the BGMEA's other pledges involve the sustainability of the factories, promoting local fashion in the world, ensuring health safety of the workers and prepare the sector for adopting transformative technologies with skill and innovation.

The BGMEA president also said different local and international organisations are providing required technical, financial and strategic assistance to the BGMEA for implementing its initiatives.

The BGMEA senior vice president Faisal Samad introduced the trade body's s revamped official website at the programme.