The Bangladesh Knitwear Manufacturers and Exporters Association (BKMEA) in a statement said the government is yet to release the amount despite the assurances from the chief adviser and finance adviser.

Many knit factories are facing financial crisis because of the non-payment of the incentives, the statement added.

The knit factories also need the money when the pressure is mounting to set up effluent treatment plants for dyeing units. An effluent treatment plant costs between Tk 1 crore and Tk 1.5 crore.

Moreover, the manufacturers are also facing financial crisis due to the price hike of raw materials and other accessories and rise in workers' salary, the BKMEA said.

Meanwhile, reiterating the demand for continuation of cash incentive, the knitwear manufacturers have also urged the government to provide them with 10 percent cash incentive to face competition in the international market. The existing provision of 5 percent cash incentive is scheduled to end from July.

They made the plea when a BKMEA delegation yesterday met the chairman of the National Board of Revenue to submit budget proposals.

The BKMEA said Bangladesh's main competitors in India, Pakistan and China are receiving cash incentives and assistance in different forms from their governments.

With such advantages, manufacturers in India, China and Pakistan are dominating the international market.

Besides, in Bangladesh production cost is higher than that in India and Pakistan, as Bangladesh has to outsource raw materials and machineries, the proposals said adding that the knit sub-sector is also facing problems due to recent price hike of gas and electricity.