The extension is being sought at a time when the export earnings are hitting choppy waters. In March, the government announced a stimulus package of Tk5,000 crore for export-oriented industries to pay workers’ wages to tackle the impact of the Covid-19. From the stimulus package, the apparel manufacturers have taken Tk10,500 crore so far to pay the workers’ wages. As per the terms of conditions of the package, manufacturers were asked to repay the fund in 18 equal instalments over two years with a grace period of six months. In response to the demand from the BGMEA, the commerce ministry requested the finance ministry to extend the timeframe for repayment of the fund.

Source: Dhaka Tribune November 02, 2020 15:45 UTC