Thanks to the COVID-19 pandemic and what is termed as ‘negligence’ by some banks, the contribution of the readymade garment manufacturing units to the central fund, which has been set up to provide financial assistance to apparel workers, fell 14.20 per cent to Taka 55.83 crore last fiscal year.
As per reports, despite the country’s central bank (Bangladesh Bank) asking the lenders to deposit the money to the central fund, some banks have allegedly not followed the same and have not deducted the amount of the export earnings as per the rules.
Consequent to the same, the volume of the fund has not increased as expected, as per the central bank.
The Central Fund for the Readymade Garment Sector in fiscal year of 2018-19, reportedly, received Taka 65.06 crore from the garment exporters.
It may be mentioned here that managed by the Labour Department, the Central Fund for the Readymade Garment Sector was set up by the Government in 2016.
According to reports which quoted the Director-General of the Central Fund, Md. Amir Hossain, since its inception, around Taka 238.99 crore has been deposited by the apparel exporters.
Further, a total of about Taka 85.39 crore has reportedly been distributed amongst eligible garment workers, their children or heirs, in grants.
