Home / Knowledge / News / Apparel/Garments / Repay loans to claim interest waiver - Ministry
Repay loans to claim interest waiver - Ministry
03
Apr '10
Recently, a circular was issued by the Finance Ministry to 270 sick apparel industries to the effect that if these industries wish to claim the facility of interest waiver then they must repay their outstanding loans at one go within a year's time.

A statement from the Bangladesh Garment Manufacturers and Exporters Association (BGMEA) states that the trade body fails to agree with the government directions, as according to it, the time allotted by the Finance Ministry to the sick industries for repaying the loan amount is not sufficient and that is because, all the 270 units have shut down since 2005.

The statement rather claims that the total interest amount should be shelled out from stimulus package, allowing down payment of Tk 2 lakh against loan of Tk 2 crore and Tk 3 lakh for Tk 3 crore - Tk 5 crore loan and also that a time period of five years should be allowed for the purpose.

Also the leading apparel trade body demanded that, in respect of the loans of Tk 5 crore and higher amount the rescheduling facility should be deferred for 10 years with a payment of Tk 5 lakh, as down payment.

Fibre2fashion News Desk - India


Must ReadView All

Textiles | On 23rd Jun 2017

Textile ministry organises training workshop on GST

The ministry of textiles had organised training workshop on GST which ...

Apparel/Garments | On 23rd Jun 2017

Uware Brands into licensing agreement with Polaroid

Uware Brands has entered into a licensing agreement with Polaroid for ...

Textiles | On 23rd Jun 2017

Ralph Lauren ex-president Tiger of Sweden's new CEO

Hans-Christian Meyer, former president of Ralph Lauren Corporation,...

Interviews View All

Veronique Lee
Modavanti

‘Sustainable fashion is trending upwards, slowly but surely, as people...

Rajiv Sirohi
Shara

‘Portugal is taking away a major share of the mill made sector.’

Hannah Lane
Redress

Encouragement from brands will motivate supply chains to become more...

Mark Paterson
Technical Absorbents Ltd

Mark Paterson, R&D manager of Technical Absorbents Ltd talks about Super...

Kevin Nelson
TissueGen

Kevin Nelson, Chief Scientific Officer, TissueGen discusses the growing...

Steve Cole
Xerium Technologies

Steve Cole of Xerium Technologies discusses the industry. Xerium is the...

Bani Batra

Bani Batra’s couture wedding collection is inspired by traditional Indian...

Wendell Rodricks
Wendell Rodricks

"We should not compare India and the West. There are things we do that...

Ritu Kumar
Label Ritu Kumar

‘Classics will return’ "There are a lot of people wearing western clothes ...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH

news category


Related Categories:
June 2017

June 2017

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

SUBSCRIBE


Browse Our Archives

GO


E-News Insight
Subscribe Today and Get the
Latest News Update in Your Mail Box.
Advanced Search