Bangladesh Garment Manufacturers and Exporters Association (BGMEA) has urged the government to introduce new policies during the forthcoming budget for the next fiscal year (FY25). A few of the key proposals urged for by BGMEA include reducing the tax at source on exports to the previous rate of 0.50 percent, from the current 1 per cent, and maintaining this rate for the next five years.

These proposals were outlined by SM Mannan Kochi, President, BGMEA during a view-exchange meeting with journalists at a hotel in Dhaka. At this meeting, BGMEA also called for an extension of the government incentives for the apparel sector until 2029. Additionally, they proposed a reduction in the tax on cash incentives from the existing 10 per cent to 5 per cent.

The meeting was attended by the entire newly-elected BGMEA board, which assumed office on April 4 this year. Prominent figures such as Atiqul Islam, former President, BGMEA and Mayor, Dhaka North City Corporation (DNCC); Abdus Salam Murshedy, former President, BGMEA and MP, and Siddiqur Rahman, Commerce Secretary, Awami League Industries.