Major export markets of Bangladesh, including Europe, are yet to get back to fully normal state, BGMEA said in a media release. The sector was expected to recover with improvements in the pandemic situation, but the surge of new variants and infections posed challenges for the industry again.
The BGMEA representatives have requested the government to extend the payback period of the loans under the COVID response stimulus package from the existing 18 months to 36 months to help the sector overcome the hurdles. They have urged the government to write off all debts, interest and cost of fund charges for the 133 sick RMG factories, taking them into special consideration.
The BGMEA leaders have also called for exit policy for businesses who want to shut down their businesses safely, like Chapter 11, which exists in most competing countries. The association has requested the government not to treat compliant units of a group of companies as loan defaulter for loan defaulting by any of its concerns, as other profitable and compliant enterprises of the group would be affected due to it.
A delegation of BGMEA led by its acting president SM Mannan (Kochi) made the call during a meeting with senior secretary of the finance ministry Abdur Rouf Talukder at the secretariat. Former BGMEA president Md Shafiul Islam (Mohiuddin), MP, BGMEA vice president Shahidullah Azim, vice president (Finance) Khandoker Rafiqul Islam and director M Ahsanul Hoq were also present at the meeting.
ALCHEMPro News Desk (KD)
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