BGMEA seeks soft loan as leaders meet finance adviser

Bangladesh Garment Manufacturers and Exporters Association (BGMEA) President Khandoker Rafiqul Islam on Tuesday sought soft loan from the government to recoup losses due to operational disruptions of enterprises during student-mass uprising, general holidays and severe flood.

The loan assistance was sought as a BGMEA delegation led by its president met Finance and Commerce Adviser to the interim government Dr Salehuddin Ahmed at his ERD office, reports BSS.

Emerging from the meeting, the BGMEA president said they sought such soft loan facilities from the adviser in one month which could be repaid in one year.

"The discussion also featured a couple of issues. We're confident that if we work together with the government, we can take the sector forward," he added.

He said the loans are now being made classified if any entrepreneur fails to pay three installments in a row which was earlier six installments. "We're seeking to make it six installments again," he said.

He also said, "If it is made so now, it could be changed again later when the situation becomes normal”.

Rafiqul said the finance adviser was very much positive and assured the BGMEA of extending his highest cooperation.

"We've also assured him that if we can make a turnaround, then our exports will make a fast come back...we just need cooperation from all, the foreign buyers have now trust and confidence in us as Bangladesh is OK now. We believe that more businesses will now move to Bangladesh," he added.

Asked about the details of soft loans, the BGMEA president said the RMG exporters and entrepreneurs could not operate in full swing over the last 15 to 16 days out of the last 45 days which were marred with student led mass uprising and the post prevailing situation including severe flash floods following the ouster of Awami League government.

Responding to a question, he said they sought around Taka 1,800 crore to Taka 1,900 crore as soft loans in one month.

Replying to another question, Rafiqul said there is now no problem with the formation of new committee of the BGMEA as the Ministry of Commerce had suggested them to move forward the sector with current leadership.

He also informed that they would sit with the international buyers and brand forums this afternoon centering the current situation.

Former BGMEA presidents Quazi Moniruzzaman and SM Fazlul Hoque and other leaders were present at the meeting among others.