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BGMEA is seeking bank assistance for the RMG sector to address the pandemic challenge.

The Bangladesh Garment Manufacturers and Exporters Association (BGMEA) has recently been struggling to overcome the effects of the pandemic and remain competitive in the global market of the Bangladesh Bank (BB) against the ready-made garment (RMG) industry. I asked for help. A delegation of BGMEA met with BB Governor Fazle Kabir last week to discuss this issue.

The pandemic is not over yet, and the RMG division is still working hard to overcome the massive impact, said Faruque Hassan, president of BGMEA.

Given the situation, Bangladesh Bank’s support for simplifying and easing monetary policy related to the RMG industry will help the sector tackle and improve its challenges, he was quoted in Bangladesh media reports. ..

Previously, the Bank of Bangladesh increased the export development fund (EDF) loan limit to clothing and textile factories from $ 25 million to $ 30 million.

Faruque called on Bangladesh Bank to extend the deadline for enhanced EDF by six months.

He asked BB to extend the mortgage repayment period from two to five years under the COVID-enabled stimulus package as the sector has passed a rough patch.

He also asked the central bank to amortize all of the 133 sick RMG factory debt, interest, and endowment costs.

Fiber2Fashion News Desk (DS)

The Bangladesh Garment Manufacturers and Exporters Association (BGMEA) from the Bangladesh Bank (BB) for the ready-made garment industry struggling to overcome the effects of the pandemic and remain competitive in the global market. Seeking help. A delegation of BGMEA met with BB Governor Fazle Kabir last week to discuss this issue.



BGMEA is seeking bank assistance for the RMG sector to address the pandemic challenge.

Source link BGMEA is seeking bank assistance for the RMG sector to address the pandemic challenge.

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