I am looking forward to the success of the Covid-19 vaccine and its availability in 2021. If the vaccine proves effective, we will be able to return to business easily.
The international economy and trade situation will be better. I hope the positive impact of this will turn the economy of Bangladesh around as a whole, including the textile sector.
Next year's business situation depends on the coronavirus situation. However, at the beginning of 2021, there is a fear that the second wave of Covid-19 will have a negative impact. The UK has already announced a fresh lockdown. If Europe follows the same path, production and exports of the textile sector will be disrupted. So, to get rid of Covid-19 is the most effective tonic for next year.
Our business-friendly prime minister announced various incentive packages at the beginning of the pandemic, and those have reassured businessmen. That is why we are also trying our best to run businesses by retaining employment. The prime minister has already directed the finance ministry to come up with new incentives to address the impacts of the second wave of Covid-19.
We want the government to set the terms of the incentives in a way that meets the purpose of the incentives. As a single sector, Bangladesh has the highest investment in the textile sector. I hope that the incentive packages will play a supportive role in protecting the interests of this sector.
I expect that taxes will not be increased in any sector in the upcoming year. Rather, I hope that tax rates will be reduced in different arenas. But the most important thing is that the price of gas and electricity should not increase in any way in 2021. Due to the Covid-19 pandemic, it has become difficult for industrial organisations to survive. In this situation, a slight increase in the price of gas and electricity will cause a great disaster.
Mohammad Ali Khokon, president of Bangladesh Textile Mills Association (BTMA)