
To recover from recent losses, the Bangladesh Garment Manufacturers and Exporters Association (BGMEA) has urged the interim Government for a Taka 1,800–1,900 crore soft loan.
“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 on Tuesday.
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 4-5 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.
“There were also some other minor issues,” he added. “We can move the nation forward by cooperating with this administration, he [the finance adviser] informed us. Additionally, he stated that instead of six installments, their loans are now being flagged if an entrepreneur misses three consecutive payments.”
“We want it to be six installments once more. When things are normal, the Government may once more go back to three installments.”
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.”