Dhaka, Nov 26 (bdnews24.com) – Finance minister AMA Muhith said Thursday there was no scope for a rethink on the additional stimulus package of Tk 1000 crore announced by the government the day before, despite dissatisfaction of apparel exporters.

Muhith on Wednesday rolled out an additional Tk 1,000 crore package to help the readymade garment industries to deal with the aftermath of global economic recession, with certain conditions attached.

Shortly after the announcement, apparel industries leaders urged the government to reconsider the package, which did not meet their expectation.

"We have announced a three-year incentive package against their five year incentive package demand. But, they can not enjoy the benefits of the package if they don't meet conditions," Muhith said.

He also said BGMEA still have not been able to submit detailed information requested on their small and medium industries to the review committee concerned.

Small and medium garments are the worst hit sector by the current global economic slump," BKMEA president M Fazlul Hoque told a news conference on Wednesday later.

"We proposed special facilities to the sector but the announced package will do no good to the sector," he asserted.

In a separate press conference, Salam Murshedi also expressed his frustration over the package.

"We expected the package would include short-term and long-term plans but there are no such things in the package."

"The package also has nothing for small and medium industries. It failed to meet our expectation."

On their allegations, Muhith said, Bangladesh apparel sector is receiving highest assistance.

He also said they are enjoying many benefits, including tax cuts, from the government as they contribute to the creation of mass employment in the country.

"They are not having to pay corporate tax."

In April, the government unveiled a stimulus package of Tk 3,424 crore on the recommendations of a recession taskforce, but the garment industry was not included.

The government formed a committee on Oct 15 to assess the needs of the garment industry, the highest export sector, in line with the recommendations of the taskforce.

Based on the recommendations of the committee, headed former finance minister M Saiduzzaman, the government unveiled the second package on Wednesday.

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