FE Report

BGMEA Thursday appreciated the government's latest decision of reviving 270 sick garment factories to help rehabilitate the units by resuming production.

Bangladesh Garment Manufacturers and Exporters Association (BGMEA) in a statement said the decision has proved that the government is industry and labour-friendly.

The government's decision came considering the important role of the ready-made garments (RMG) sector in national economy and export trade, and in creating employment opportunity.

According to the decision, the sick industries will get an opportunity to receive fresh loans, and repay the principal amount of their default bank loans in 10-yearly instalments. Owners of the sick garment industries will not have to pay any amount for getting their default loans rescheduled.

Earlier, the BGMEA submitted a list of 270 garment factories to the Finance Ministry to avail the special financial facility.

A senior BGMEA official said the steps would help the closed garment factories resume their production. "The garment sector is doing well amid various internal and external challenges. We want speedy and smooth implementation of the decision to enhance our export," he added.