B Mirror Report: Governor of Bangladesh Bank Dr Ahsan H. Mansur on Tuesday assured leaders of the Bangladesh Garment Manufacturers and Exporters Association (BGMEA) of necessary policy assistance to help the Ready-Made Garment (RMG) sector overcome its ongoing challenges.

The assurance came at an emergency meeting held at the central bank headquarters in the capital, where a BGMEA delegation led by Senior Vice-President Inamul Haque Khan and Vice-President Md Shihab Uddoja Chowdhury met the governor, according to a BGMEA press release.

The meeting mainly focused on the prevailing liquidity crunch in the garment industry and ensuring timely payment of wages and bonuses to workers ahead of Eid-ul-Fitr.

Addressing the concerns of the RMG leaders, Dr Mansur said the central bank would take supportive measures to ease the cash flow shortage so that factories can meet their financial obligations before the festival. He particularly stressed the speedy disbursement of pending cash incentives, giving priority to small and medium enterprises (SMEs).

Reaffirming the central bank’s commitment, the governor said Bangladesh Bank would continue to provide an enabling policy framework to safeguard the country’s leading export-earning sector during this critical time.

Earlier, BGMEA leaders outlined the sector’s deepening crisis, citing declining global demand, rising production costs and geopolitical uncertainties. They also noted that due to general holidays for the national election and Language Day, February had only 19 effective working days, disrupting production and shipments and intensifying the cash flow strain.

The delegation placed several proposals, including immediate release of around Tk 5,700 crore in outstanding cash incentives for FY2025-26, introduction of wage support loans equivalent to two months’ salaries repayable over 12 months with a three-month grace period, expansion of the Pre-shipment Credit Scheme fund from Tk 5,000 crore to Tk 10,000 crore with extension until 2030, and reduction of the Packing Credit interest rate to 7 percent.

Industry leaders underscored that prompt intervention by the central bank is vital to maintain stability in industrial areas and protect overall economic discipline.

The governor’s positive response is being viewed as a significant step toward ensuring protection for the industry, its workforce and the national economy.

Governor of Bangladesh Bank Dr Ahsan H. Mansur on Tuesday assured leaders of the Bangladesh Garment Manufacturers and Exporters Association (BGMEA) of necessary policy assistance to help the Ready-Made Garment (RMG) sector overcome its ongoing challenges.

The assurance came at an emergency meeting held at the central bank headquarters in the capital, where a BGMEA delegation led by Senior Vice-President Inamul Haque Khan and Vice-President Md Shihab Uddoja Chowdhury met the governor, according to a BGMEA press release.

The meeting mainly focused on the prevailing liquidity crunch in the garment industry and ensuring timely payment of wages and bonuses to workers ahead of Eid-ul-Fitr.

Addressing the concerns of the RMG leaders, Dr Mansur said the central bank would take supportive measures to ease the cash flow shortage so that factories can meet their financial obligations before the festival. He particularly stressed the speedy disbursement of pending cash incentives, giving priority to small and medium enterprises (SMEs).

Reaffirming the central bank’s commitment, the governor said Bangladesh Bank would continue to provide an enabling policy framework to safeguard the country’s leading export-earning sector during this critical time.

Earlier, BGMEA leaders outlined the sector’s deepening crisis, citing declining global demand, rising production costs and geopolitical uncertainties. They also noted that due to general holidays for the national election and Language Day, February had only 19 effective working days, disrupting production and shipments and intensifying the cash flow strain.

The delegation placed several proposals, including immediate release of around Tk 5,700 crore in outstanding cash incentives for FY2025-26, introduction of wage support loans equivalent to two months’ salaries repayable over 12 months with a three-month grace period, expansion of the Pre-shipment Credit Scheme fund from Tk 5,000 crore to Tk 10,000 crore with extension until 2030, and reduction of the Packing Credit interest rate to 7 percent.

Industry leaders underscored that prompt intervention by the central bank is vital to maintain stability in industrial areas and protect overall economic discipline.

The governor’s positive response is being viewed as a significant step toward ensuring protection for the industry, its workforce and the national economy.