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Proposed budget not RMG friendly, says BGMEA president

05 June,2015

RTNN News Desk: Bangladesh Garment Manufacturers and Exporters
Association (BGMEA) president Atiqul Islam on Friday welcomed the
proposed budget though he opined that the budget is not ‘RMG-
friendly’.

He came up with the observation at a post-budget press conference,
jointly organised by BGMEA, Bangladesh Knitwear Manufacturers and
Exporters Association (BKMEA) and Bangladesh Textiles Mills
Association (BTMA) at BGMEA Bhaban in the capital.

The BGMEA president noted that the readymade garment (RMG) exporters
will be affected as the Finance Minister in his budget speech
proposed to increase the source tax to 1 percent from existing 0.3
percent.

BTMA president Tapan Chowdhury said increasing tax in source is not
logical at this moment as the business community counted huge losses
during 92 days of hartal-blockade in the beginning of the year.

BKMEA president Nasim Osman also urged the government to reduce the
proposed tax in source.

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