Not just taxes, focus needed on creating employment also | The Business Standard
Skip to main content
  • Latest
  • Economy
    • Banking
    • Stocks
    • Industry
    • Analysis
    • Bazaar
    • RMG
    • Corporates
    • Aviation
  • Videos
    • TBS Today
    • TBS Stories
    • TBS World
    • News of the day
    • TBS Programs
    • Podcast
    • Editor's Pick
  • World+Biz
  • Features
    • Panorama
    • The Big Picture
    • Pursuit
    • Habitat
    • Thoughts
    • Splash
    • Mode
    • Tech
    • Explorer
    • Brands
    • In Focus
    • Book Review
    • Earth
    • Food
    • Luxury
    • Wheels
  • Subscribe
    • Epaper
    • GOVT. Ad
  • More
    • Sports
    • TBS Graduates
    • Bangladesh
    • Supplement
    • Infograph
    • Archive
    • Gallery
    • Long Read
    • Interviews
    • Offbeat
    • Magazine
    • Climate Change
    • Health
    • Cartoons
  • বাংলা
The Business Standard

Monday
July 14, 2025

Sign In
Subscribe
  • Latest
  • Economy
    • Banking
    • Stocks
    • Industry
    • Analysis
    • Bazaar
    • RMG
    • Corporates
    • Aviation
  • Videos
    • TBS Today
    • TBS Stories
    • TBS World
    • News of the day
    • TBS Programs
    • Podcast
    • Editor's Pick
  • World+Biz
  • Features
    • Panorama
    • The Big Picture
    • Pursuit
    • Habitat
    • Thoughts
    • Splash
    • Mode
    • Tech
    • Explorer
    • Brands
    • In Focus
    • Book Review
    • Earth
    • Food
    • Luxury
    • Wheels
  • Subscribe
    • Epaper
    • GOVT. Ad
  • More
    • Sports
    • TBS Graduates
    • Bangladesh
    • Supplement
    • Infograph
    • Archive
    • Gallery
    • Long Read
    • Interviews
    • Offbeat
    • Magazine
    • Climate Change
    • Health
    • Cartoons
  • বাংলা
MONDAY, JULY 14, 2025
Not just taxes, focus needed on creating employment also

Budget

Faruque Hassan
03 June, 2021, 06:20 pm
Last modified: 03 June, 2021, 11:05 pm

Related News

  • BGMEA condemns Guardian article 'defaming' RMG women workers
  • Kurdistan-Bangladesh Business Council chief meets BGMEA president to discuss business potential
  • BGMEA president clarifies media report on 'apparel ban'
  • UL Solutions delegation meets BGMEA President
  • ILO Japan delegation calls on BGMEA president

Not just taxes, focus needed on creating employment also

Faruque Hassan
03 June, 2021, 06:20 pm
Last modified: 03 June, 2021, 11:05 pm
Faruque Hassan. Sketch: TBS
Faruque Hassan. Sketch: TBS

There has been no investment in the readymade garment sector in the last one and a half years due to the ongoing pandemic. Nor has any further employment been generated in the sector in this time.

As such, BGMEA proposed keeping the 0.25% tax at source on exports intact and to continue it for the next five years, but in vain. Faruque Hassan, president of Bangladesh Garment Manufacturers and Exporters Association (BGMEA), a garment factory owners' platform, said this in talking to The Business Standard.

He was expressing his reaction to the proposed 2021-2022 fiscal year budget, placed before Parliament by Finance Minister AHM Mustafa Kamal on Thursday.

The Business Standard Google News Keep updated, follow The Business Standard's Google news channel

Observing that the nominal 0.25% tax at source on exports should be retained to increase investment in the RMG sector, the BGMEA president said the existing corporate tax rate for the RMG sector also needs to be held steady for the next five years, while the existing 4% government incentive should be increased to 5% in order to increase exports to new markets.

He said "We proposed a 10% cash incentive for the export of garments made of non-cotton/synthetic fibres. It is also necessary to adopt an exit policy for permanent closure of factories that shut down due to the pandemic or political instability in the past. Government assistance is also needed to reopen closed factories.

"The budget has just been proposed. I hope our demands will be taken into consideration during parliamentary discussion in approving the budget," he added.


Faruque Hassan, president of BGMEA

Economy / Top News

Budget 21-22 FY / BGMEA president

Comments

While most comments will be posted if they are on-topic and not abusive, moderation decisions are subjective. Published comments are readers’ own views and The Business Standard does not endorse any of the readers’ comments.

Top Stories

  • Infographic: TBS
    Govt to set six conditions to prevent delays, waste in foreign-funded projects
  • BNP Secretary General Mirza Fakhrul Islam Alamgir at a press conference held at the BNP Chairperson Khaleda Zia’s political office in Gulshan on 14 July 2025. Photo: Screengrab
    Well-orchestrated propaganda launched against BNP to prevent restoration of democratic politics: Fakhrul
  • Chief Adviser’s Deputy Press Secretary Abul Kalam Azad Majumder speaks at a press briefing at the Foreign Service Academy in Dhaka on 3 February 2025. File Photo: BSS
    No conclusive data supporting sharp rise in crime in Bangladesh: Govt

MOST VIEWED

  • From Gulf to Southeast Asia, why Bangladeshis are facing visa denials
    From Gulf to Southeast Asia, why Bangladeshis are facing visa denials
  • Infographic: TBS
    Dollar price plummets by Tk2.9 in a week as demand wanes
  • Energy Adviser Fouzul Kabir Khan speaking about tariff negotiations with United States on 13 July 2025. Photo: TBS
    US wants a framework agreement with Bangladesh that includes their security concerns: Fouzul
  • CNG drivers blockaded a road in Banani demanding route allocation on 13 July 2025. Photo: TBS
    CNG drivers block road in Banani for hours, causing Mohakhali-Uttara gridlock 
  • BSEC directs 44 firms to transfer Tk1,000cr in unclaimed dividends to CMSF
    BSEC directs 44 firms to transfer Tk1,000cr in unclaimed dividends to CMSF
  • TBS Sketch
    Framework agreement: What experts say about US 'security concerns' regarding Bangladesh

Related News

  • BGMEA condemns Guardian article 'defaming' RMG women workers
  • Kurdistan-Bangladesh Business Council chief meets BGMEA president to discuss business potential
  • BGMEA president clarifies media report on 'apparel ban'
  • UL Solutions delegation meets BGMEA President
  • ILO Japan delegation calls on BGMEA president

Features

Photo: Collected

Grooming gadgets: Where sleek tools meet effortless styles

20h | Brands
The 2020 Harrier's Porsche Cayenne coupe-like rear roofline, integrated LED lighting with the Modellista special bodykit all around, and a swanky front grille scream OEM Plus for the sophisticated enthusiast looking for a bigger family car that isn’t boring. PHOTO: Ahbaar Mohammad

2020 Toyota Harrier Hybrid: The Japanese Macan

1d | Wheels
The showroom was launched through a lavish event held there, and in attendance were DHS Motors’ Managing Director Nafees Khundker, CEO Imran Zaman Khan, and GMs Arman Rashid and Farhan Samad. PHOTO: Akif Hamid

GAC inaugurate flagship showroom in Dhaka

1d | Wheels
After India's visa restriction, China's Kunming is drawing Bangladeshi patients

After India's visa restriction, China's Kunming is drawing Bangladeshi patients

2d | Panorama

More Videos from TBS

Iranian president narrowly escapes Israeli attack

Iranian president narrowly escapes Israeli attack

1h | TBS World
Why Modhumoti Bank’s NPL ratio stays below 2.5%

Why Modhumoti Bank’s NPL ratio stays below 2.5%

2h | TBS Programs
'Boat' to remain in symbol list, 'Shapla' not included: EC Machud

'Boat' to remain in symbol list, 'Shapla' not included: EC Machud

3h | TBS Today
When the Threat Is Inside the White House

When the Threat Is Inside the White House

15h | Others
EMAIL US
contact@tbsnews.net
FOLLOW US
WHATSAPP
+880 1847416158
The Business Standard
  • About Us
  • Contact us
  • Sitemap
  • Advertisement
  • Privacy Policy
  • Comment Policy
Copyright © 2025
The Business Standard All rights reserved
Technical Partner: RSI Lab

Contact Us

The Business Standard

Main Office -4/A, Eskaton Garden, Dhaka- 1000

Phone: +8801847 416158 - 59

Send Opinion articles to - oped.tbs@gmail.com

For advertisement- sales@tbsnews.net