Staff correspondent :

The Bangladesh Garment Manufacturers and Exporters Association (BGMEA) President Faruque Hassan today said if all opportunities and possibilities of the industrial sector are utilized, it will be possible to achieve the desired GDP growth of the proposed national budget for the fiscal 2023-24 (FY24).

“This year’s budget is very important and significant in the current global situation. The main objective of this year’s budget is to control the ongoing high inflation, sustain higher GDP growth and increase revenue, which is a positive aspect of our budget,” he said.

He made the comments on the post budget reaction for FY24 in the capital.

BGMEA organised the media briefing to share its reaction on the Taka 7,61,785 crore proposed national budget for fiscal year 2023-24 beginning from July.

Finance Minister AHM Mustafa Kamal on Thursday placed the national budget in the Jatiya Sangsad eyeing a 7.5 percent GDP growth rate with an expectation of keeping annual inflation at around 6.0 percent.

Faruque Hassan said in the current global situation, the government has announced to achieve the target of 7.5 percent growth in the next financial year, which will create hopes among the country’s people.

The GDP growth target will not possible to achieve without industrial growth, he mentioned.

He said the government is always supporting the RMG sector, otherwise the sector would not overcome the crisis. The Prime Minister has always kindly supported the industry, he added.

He thanked the Prime Minister for her wise guidance to the sector.

He mentioned that a special allocation of Tk 100 crore has been proposed for the next budget for research, innovation and development work in order to prepare the youth as the driving force of building ‘Smart Bangladesh’.

It will play a special role in developing international competitiveness and innovation capacity in the industry, he added.

“We are working together with the government to build a Smart Bangladesh,” he said.

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