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BTMA seeks interest-free loans for wages, Bangla govt fund
28 Mar '20
1 min read
Pic: Shutterstock
The Bangladesh Textile Mills Association (BTMA) has demanded a special government fund to pay the wages and festival allowances to workers for six months to overcome the negative impact of the COVID-19 pandemic. BTMA president Mohammad Ali Khokon recently wrote a letter to prime minister’s principal secretary Ahmad Kaikaus demanded such a bailout package.
The trade body proposed that factory owners would get interest-free loans from the fund to pay the workers’ wages with 36 months repayment facility, according to Bangla media reports.
It also demanded interest waiver on term loans for six months and increasing the period of repayment to one year with a six-month moratorium facility.
It suggested block account facility on utility bills for six months and interest-free payment facility of the amounts in next 12 month, and demanded raising cash incentive for the sector to 7 per cent from the existing 4 per cent against freight on board price.
The Bangladesh Trade Union Centre, however, felt the BTMA’s demand for interest-free fund for workers’ wages is not logical.
The trade body proposed that factory owners would get interest-free loans from the fund to pay the workers’ wages with 36 months repayment facility, according to Bangla media reports.
It also demanded interest waiver on term loans for six months and increasing the period of repayment to one year with a six-month moratorium facility.
It suggested block account facility on utility bills for six months and interest-free payment facility of the amounts in next 12 month, and demanded raising cash incentive for the sector to 7 per cent from the existing 4 per cent against freight on board price.
The Bangladesh Trade Union Centre, however, felt the BTMA’s demand for interest-free fund for workers’ wages is not logical.
Fibre2Fashion News Desk (DS)
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