To facilitate payment of wages and bonuses ahead of the upcoming Eid-ul-Fitr, leaders of Bangladesh Garment Manufacturers and Exporters Association (BGMEA) have requested Bangladesh Bank for a special loan facility equivalent to two months’ wages, with a three-month grace period and repayment over 12 months under easy terms.
According to estimates by BGMEA, the sector’s monthly wage bill stands at approximately Tk 700 crore. On that basis, the trade body sought a loan of Tk1,400 crore to cover two months’ salary expenses.
They made the demand during a meeting with Bangladesh Bank Governor Dr Ahsan H Mansur to address the current crisis in the RMG sector at the central bank headquarters in the capital on Tuesday.
BGMEA leaders informed the governor that ensuring timely payment of workers’ dues is crucial for maintaining stability in industrial zones and overall economic discipline in the country.
They stressed that prompt and timely measures from the Bangladesh Bank are essential to safeguard this key sector of the national economy from ongoing adversities.
During the meeting, BGMEA leaders highlighted that the garment industry is currently passing through a deep crisis due to declining global demand and falling prices, abnormal increases in production costs, and global geopolitical instability.
In particular, due to extended public holidays surrounding the national parliamentary elections and Language Martyrs’ Day, the number of effective working days in February (a 28-day month) has dropped to only 19 days. As a result, regular shipments have been disrupted, pushing factories toward severe financial strain.
In such a situation, ensuring timely payment of wages and bonuses to workers ahead of Eid-ul-Fitr has become a major challenge for entrepreneurs, the RMG exporters described.
They also pointed out that a large number of cash incentive applications remain stuck due to complexities in lien bank and Bangladesh Bank audit procedures. In the fiscal 2025-26, around Tk5,700 crore in incentives for the textile and garment sector remain unsettled.
Furthermore, they demanded reintroduction of loan support under the Packing Credit (PC) scheme and reduction of the interest rate to 7%, enhancement of the Pre-Shipment Credit Scheme fund from Tk5,000 crore to Tk10,000 crore, and extension of the scheme until 2030.
Governor Dr Ahsan H Mansur assured that Bangladesh Bank would provide the necessary policy support to help overcome the crisis in the garment sector. In response to BGMEA’s requests, he expressed his commitment to prioritising the release of pending cash incentives—particularly for SMEs—and to taking positive measures to ease liquidity constraints so that factories can pay workers’ dues before Eid.
Bd-pratidin English/ ANI
