The Bangladesh Garment Manufacturers and Exporters Association (BGMEA) has sought a Tk 1,800-1,900 crore soft loan from the interim government to recoup from the recent losses.
“We have asked the interim government for the soft loan just for the ready-made garment sector,” BGMEA President Khandaker Rafiqul Islam told reporters following a meeting with Interim Government Finance Advisor Dr Salehuddin Ahmed at Economic Relations Department (ERD) office in Agargaon today (27 August).
He also said that production was off for at least 16-17 days out of the last 45 days. Also due to the ongoing flood, exports have been halted for four-five days.
“We have asked for a loan for this sector due to many reasons. The soft loan amount we sought for is equivalent to one month’s salaries of all employees of this sector. We will pay back this loan with interest within a year,” he added.
He also said, “There were also some other minor issues. He [finance adviser] assured us that by working with this government we can take the country forward. Besides, he said their loans are now being classified if any entrepreneur fails to pay three installments in a row which was earlier six installments.
“We’re demanding to make it six installments again. the government can again revert back to three installments when the situation is normal.”
Regarding the future of the sector Khandaker Rafiqul Islam also said, “We hope that our economy will turn around and if we all cooperate, the confidence of foreign buyers will be strengthened. We believe that many more businesses will move toward Bangladesh.”
