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 6th Dec 2016

Garments, yarn export entitlement quota extended for 1 yr

Indian government has extended the export entitlement quota for...

Textiles | On 6th Dec 2016

Cash inflow will revive sales: Textile industry

The textile industry representatives are hopeful of revival of...

Courtesy: SIMA

Textiles | On 6th Dec 2016

Amma gave special attention for textile growth in TN: SIMA

Former Tamil Nadu chief minister J Jayalalithaa paid special...

Interviews View All

Dinaz Madhukar
DLF Emporio and DLF Promenade

‘Each event and promotion is planned out keeping in mind the business of...

Smita Murarka
Amanté

‘There is huge demand in the Indian lingerie market for non-wired styles.’

Awen Delaval
Samatoa

'Natural fibres are appreciated for traditional authenticity'

Kerem Durdag
Biovation II LLC

Kerem Durdag, CEO, Biovation II LLC, provides an insight into future...

Eamonn Tighe
Nature Works LLC

Eamonn Tighe, Fibres and Nonwovens - Business Development Manager of...

Kevin Nelson
TissueGen

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

Judy Frater
Somaiya Kala Vidya

Among the many honours showered on Frater, including Fulbright and Ford...

Robert Brunner
Devereux

Golfwear and menswear brand Devereux is set for greener pastures. Robert...

Bani Batra

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

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
December 2016

December 2016

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

SUBSCRIBE


Browse Our Archives

GO


Advanced Search