Govt to support struggling factories through Bangladesh Bank’s revival fund

The government will provide incentives for factories that have not yet closed but are struggling to operate, making them eligible for support from a Bangladesh Bank fund being formed to revive closed industrial units.

The assurance was given by Prime Minister Tarique Rahman during a meeting held today (11 May) with leaders of the two apex organisations of garment exporters, Bangladesh Garment Manufacturers and Exporters Association and Bangladesh Knitwear Manufacturers and Exporters Association, in response to demands raised by the associations. 

BGMEA President Mahmud Hasan Khan and BKMEA President Mohammad Hatem confirmed the matter to The Business Standard.

During the meeting, business leaders criticised several policies of Bangladesh Bank and sought various forms of policy support to facilitate investment and business expansion.

“The prime minister has asked us to submit in writing the areas where policy support is needed to ease business and investment. He assured us that the proposals would be implemented once submitted formally,” Mahmud said.

He added that the prime minister would hold another meeting with the BGMEA board after Eid-ul-Adha.

Hatem said the prime minister had emphasised export diversification and also informed them of the government’s plan to hand over state-owned silk industry factories in Rajshahi to the private sector.