The working committee of task force on recession recommended that the government give 5% cash incentive to readymade garment exporters and their backward integration only for new export destinations. The incentive was recommended at a meeting of the Committee for the next five years. Except EX, the US and Canada, all the export destinations will be considered as the new markets. At present more than 90% apparel items are exported to these three major markets.

The committee also suggested extending bank loan rescheduling facility for the RMG exporters up to June next year at 10% interest rate without any down payment.

The eight-member Committee formed recently also backed withdrawal of the annual license fee of Tk 5 lakh for operating captive power plants.

The Committee also proposed giving 5% extra cash incentive for the growth of small and medium garment factories as those play a supportive role in employment generation and work as backward integrators for the big plants.

At the meeting, all the stakeholders agreed in principle to form an emergency participatory fund to face any further crisis in RMG export. Primarily, the government will contribute Tk 200 crore and the exporters Tk 200 crore to forming such a fund.