To continue the production of the RMG sector, the government has provided Tk10,500 crore loan to readymade garment industry in easy terms of condition.
Commerce Minister Tipu Munshi said that the government has set up a fund to provide low-interest loans of Tk33,000 crore as working capital for export-oriented sectors affected by the ongoing pandemic. Small and medium industries are also being provided with loans at 4 per cent interest rate.
Rather than duty bonds and duty drawbacks, the export oriented textile sector is getting alternative cash assistance at the rate of 4 per cent.
Minister said that the expansion of new markets apart from the United States, Canada and the United Kingdom is one main reason for the 4 per cent interest rate.
He informed, “Further special benefits are being offered at an additional 2% interest rate, with the existing 4%, for exporting to the Eurozone. In addition, special cash assistance is being provided at the rate of 1% interest in the RMG sector.”
He also said purchasing the raw materials for export products the EDF fund has been increased to $5.5 billion and he confirmed that negotiations to reinstate canceled orders from buyers of the United States and the European Union are continuing, he confirmed.
Expatriate and Overseas Employment Minister Imran informed that the Wage Earners’ Welfare Board (WEWB) has launched a project funded by the World Bank. Thus workers can return and integrate and they can enhance their skills.
Lawmaker Mujibul Haque said, “The government has also allocated Tk500 crore for the rehabilitation of returning workers. Of this, Tk70.59 crore has been given to 2,853 people at 4 per cent interest rate and Tk 155.61 crore has been given to 7,027 people at 7-9 per cent interest rate”.