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Decision to revive sick RMG units commendable - BGMEA
23
Aug '10
Recently, BGMEA lauded the government's decision to revive 270 sick RMG factories by helping them to revitalise the units by restarting their production.

BGMEA in a statement said that, the government's decision is reflective of its industry and worker friendly stand.

The government, while bearing in mind the vital role of the ready-made garments (RMG) sector in country's economy and export trade, as also as an employment generator, made the above decision.

Pursuant to the decision, the sick industries will be afforded an opportunity to obtain fresh loans, and to pay back the defaulted principal bank loans in 10 annual instalments. No amount will be charged from the owners of these sick RMG units for rescheduling the bank loans.

Prior to the decision, BGMEA had handed over a list of 270 sick RMG units to the Finance Ministry to claim special financial facility.

A senior BGMEA official remarked that, the move would be of help to garment factories which have ceased production, to once again start the same.

Though confronted with many challenges, the garment sector is performing well he said, and added that, they seek easy and speedy execution of policies to boost their exports.

Fibre2fashion News Desk - India

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