VOL NO REGD NO DA 1589

Wednesday, March 15, 2006

HEADLINE

POLITICS & POLICIES

METRO & COUNTRY

VIEWS & OPINIONS

EDITORIAL

LETTER TO EDITOR

COMPANY & FINANCE

BUSINESS & FINANCE

TRADE/ECONOMY

LEISURE & ENTERTAINMENT

MARKET & COMMODITIES

SPORTS

WORLD

 

FE Specials

FE Education

Urban Property

Monthly Roundup

Saturday Feature

Asia/South Asia

 

Feature

13th SAARC SUMMIT DHAKA-2005

WOMEN & ECONOMY

57th Republic Day of India

US TRADE SHOW

 

 

 

Archive

Site Search

 

HOME

LETTER TO EDITOR
 
Abused bond facilities
3/15/2006
 

          THE report on abusing bond facilities of readymade garment industries is one example that is enough to assess how this sector has performed. RMG is said to be the highest foreign currency earner but most of this earning is spent to pay the cost of import of raw materials.
This sector creates record number of employment particularly for rural women but deprives its labour force of minimum facilities. This important sector enjoys many facilities from the government and its players misuse the resources for their personal comfort.
That is why, after leading the country's economy for several decades, the RMG sector is yet to have its feet strong enough to stand on its own.
All these make clear that the RMG sector has so far been run with the greed to earn profits more than usual by all concerned including the factory owners.
As the authorities concerned responsible to supervise the sector, who should have found out these irregularities are allegedly corrupt, the government has to suffer the loss of millions of Taka in revenue loss every year.
The National Board of Revenue (NBR) has recently identified 20 RMG factories which realised cash incentive worth some Tk 172 million abusing bond facilities.
Although, government came to know about the abuse of bond facilities by the RMG factories long ago, this time it was found serious enough to warrant action against these factories after probing the allegation. This is a good sign.
We also expect that this action to be taken without delay. This is necessary to bring discipline in the sector and make it workable properly. But to do so, the government has to take actions against those banks and custom officials who were involved in this malpractice. This is needed to root out corruption from all levels by setting examples.
Mazhar Khandaker
Agrabad
Chittagong

 

 
  More Headline
Abused bond facilities
Kolkata-Agartala bus service
 

Print this page | Mail this page | Save this page | Make this page my home page

About us  |  Contact us  |  Editor's panel  |  Career opportunity | Web Mail

 

 

 

 

Copy right @ financialexpress.com