Committee formed to review proposal to waive Tk 649cr for RMG factories raking in losses | The Daily Star
01:52 AM, October 06, 2020 / LAST MODIFIED: 03:01 PM, October 06, 2020

Committee formed to review proposal to waive Tk 649cr for RMG factories raking in losses

The commerce ministry yesterday formed a high-powered committee to review the proposal to waive Tk 649 crore in favour of 133 garment factories that are either out of business or raking in losses, Commerce Secretary Md Jafar Uddin said.

The committee, headed by an additional secretary (export wing) of the commerce ministry, is expected to review the proposal in a month, Jafar Uddin told The Daily Star over phone after the meeting.

As this is an old matter dating back to at least 2012, the secretary said he decided to form a committee to decide on these factories.

"The committee members will scrutinise the proposals in detail and submit the report within one month. We will then decide about those factories," Jafar Uddin added.

Members from the Federation of Bangladesh Chambers of Commerce and Industry (FBCC), Bangladesh Garment Manufacturers and Exporters Association (BGMEA), Bangladesh Bank and Bangladesh Knitwear Manufacturers and Exporters Association (BKMEA) have also been included in the committee.

The Bangladesh Garment Manufacturers and Exporters Association on Sunday demanded exemption from repayment of at least Tk 649 crore in principal amount of loans and interests for 133 readymade garment factories that are either out of business, failing to earn any profit or have shut down entirely.

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