Subsequent to a decision made by an inter-ministerial committee comprising officials of the Bangladesh Bank, Finance Ministry and the apparel sector so as to assess the possibility of liquidating sick garment factories, the Commerce Ministry has requested the Finance Ministry to liquidate 133 sick apparel units.

As per reports, the Commerce Ministry on 6 January 2021, after the inter-ministerial committee’s decision, sent a letter to the Finance Division of the Finance Ministry requesting the liquidation of the factories which have remained closed while suggesting against issuing any warrants against the companies until the Finance Division settles the issue.

It may be mentioned here that the apex garment makers’ body in Bangladesh, the Bangladesh Garment Manufacturers and Exporters Association (BGMEA), earlier requested the Finance and the Commerce ministries to exempt 133 sick units from repayment of at least Taka 700 crore in loan principals and interests, following which the Commerce Ministry, reportedly, formed the inter-ministerial committee to assess the possibility of liquidating the factories.