The Bangladesh Garment Manufacturers and Exporters Association (BGMEA) has welcomed the decision to allocate Tk 2,500 crore against the outstanding cash assistance of the export-oriented ready-made garment industry and related sectors, a press release said.
BGMEA President Mahmud Hasan Khan expressed deep gratitude and sincere thanks to the top leadership of the government, including the Honorable Finance Minister, Honorable Commerce Minister and the Governor of Bangladesh Bank, for this urgent and timely step at a time of crisis for the garment industry.
The BGMEA President said that this allocation of money has brought great relief to the industry owners at a time when there is a lot of pressure on the garment industry owners to pay salaries, allowances, bonuses and electricity and gas bills of workers and employees in view of the upcoming holy Eid-ul-Fitr.
It is pertinent to mention that the current board of BGMEA has recently held fruitful discussions and meetings with the top levels of the government, the Ministry of Finance and Bangladesh Bank for the release of the stuck cash assistance and in continuation of this, this fund of Tk 2,500 crore has been approved in the shortest possible time.
As per the notification issued by the Ministry of Finance, Tk 1,500 crore has been allocated in the first phase of the 3rd installment of the fiscal year 2025-26 and Tk 1,000 crore in the second phase, – a total of Tk 2,500 crore.
BGMEA has requested its member institutions to contact their respective lien banks and take necessary measures.
