The garment manufacturers in Bangladesh have requested the Government more time to repay the loans that they have taken from the Government as part of the coronavirus stimulus package offered by the Government, at a minimal rate of interest, to help the key sectors ward off the fallouts of COVID-19 pandemic.
According to media reports, the President of Bangladesh Garment Manufacturers and Exporters Association (BGMEA), Dr. Rubana Huq, has written a letter in this direction to the Commerce Minister, Tipu Munshi, recently.
Reports claim the garment makers have taken around Taka 105 billion from the Government in order to pay wages and allowances to the workers for the months of April to July.
However, as per the scheme offered by the Government, garment exporters are supposed to pay the debts in 18 equal instalments over a period of 2 years.
A grace period of 6 months is further offered to them by the Government.
But the garment makers have now sought 5 years instead of the 2-year time period to clear the debt.
The sector is passing through a tough time due to the coronavirus pandemic, because of which garment makers have asked for 5 years’ time to repay the loans, reportedly, said Abdur Razzak, the BGMEA Secretary, to the media.