Dhaka: A tax regime is likely to come for the country’s export-oriented readymade garment (RMG) sector in the national budget for fiscal 2015-16.

Finance Minister AMA Muhith dropped the hint while addressing a discussion titled ‘Job-creation: The Biggest Challenge in the Budget’ organised by Economic Reporters’ Forum (ERF) at the Jatiya Press Club on Saturday.

‘I believe our garment [industry] has gained enough maturity now. It’s the least taxed and most privileged sector in Bangladesh. Yes, I know the difficulties… they’re particularly facing in Europe. Despite that, the garment sector should be more generous to the government. Now they should try to give something to the state,’ he said.       

However, said the government is very caring about this sector because of its role in job creation, the Finance Minister said adding that the government had always tried to entertain the demand of the garment sector with its maximum capacity.

BIDS research director Dr Binayak Sen, CPD executive director Prof Mustafizur Rahman, Policy Research Institute’s executive director Dr. Ahsan H Mansur, Bangladesh Textile Mills Association’s vice president Fazlul Haque, AmCham president Aftabul Islam and Consumers Association of Bangladesh (CAB) president Golam Rahman also spoke on the occasion.

The Finance Minister agreed with the industrialists and economists about their concerns that the country is not receiving foreign direct investment (FDI) for which job is not being created enough.

‘I’m one of the persons who are most concerned and aware about the difficulties of the FDI, and uncertainty prevailing in the country,’ he said agreeing with the view that there should a call from parliament asking foreigners to invest in Bangladesh.

Muhith also echoed the prevailing uncertainty in the country’s political arena that impedes the investment.

But, he said, the government has been successful in containing terrorism. ‘In our economic direction, we’ve obtained some strength to overcome the economic uncertainty.  We proved this January last. Now, it’s essential to fortify this,’ he added.

Dr Binayek Sen said the country now needs to stress the expansion of vocational education to create skilled manpower, and proposed to tag the Madrasah education with the vocational education to get better return.

Dr Mustafizur Rahman said the country’s educational system has to be tuned with the job market through its standardization.

Dr. Ahsan H Monsur said the country needs huge infrastructure to generate employment. ‘Only power sector needs $60 billion investment, and the government needs to play a supportive role.’