Bangladesh's export sectors to get special incentives to fight global recession

Special Report:Global Financial Crisis

DHAKA, March 9 (Chinese media) -- The Bangladesh government will come up with a special incentive package for the export sectors which are affected by global financial meltdown within a month, leading English-language newspaper The Financial Express reported on Monday.

Bangladesh's Finance Minister AMA Muhith said this to reporters here on Sunday after a meeting with leaders of finished leather exporters and tanners association here, the newspaper said.

"An incentive package will soon be announced for the sectors that are affected by the ongoing global financial crisis. Hopefully the decision will be taken within a month," Muhith said.

Since the country's leather exporters are sufferers like some other sectors namely spinners due to global recession, the decision on payment of cash incentive is to be taken after discussion with the concerned stakeholders, Muhith said.

The leaders of finished leather exporters and tanners association during the meeting sought cash incentive for mitigating their export losses caused due to the global recession and reduction of interest rate of bank loans, the report said.

After the present government came to power early January, several associations of export industries met the finance minister with demands including cash incentives to fight the present economic depression.

"We are now working on it (the incentive package) and it will soon be finalized," a finance ministry official told local newspaper The Daily Star.