Bangladesh Bank Governor Dr Ahsan H Mansur has pledged policy support and faster disbursement of pending export incentives to help garment manufacturers manage a growing liquidity crunch and ensure timely payment of wages and bonuses before Eid-ul-Fitr.
The assurance came during an emergency meeting on Tuesday at the central bank headquarters with a delegation from the Bangladesh Garment Manufacturers and Exporters Association (BGMEA), led by Senior Vice-President Inamul Haq Khan and Vice-President Md Shihabuddoja Chowdhury.
BGMEA leaders described the current situation as a severe financial strain on the ready-made garment industry, which generates the majority of Bangladesh’s export earnings.
They said production in February has been reduced to 19 working days from the usual 28 due to public holidays linked to the national election and Language Day, disrupting shipment schedules at a critical time.
The sector is also facing weak global demand, falling export prices, rising production costs and geopolitical uncertainties. With compressed production time, factory owners are struggling to secure funds to pay workers’ salaries and Eid bonuses.
To address the crisis, BGMEA proposed expedited release of around Tk5,700 crore in pending cash incentives that remain tied up in audit processes, along with preferential treatment for small and medium factories in fund distribution.
They also sought a special wage-support loan facility equivalent to two months’ salaries, a three-month grace period and 12-month repayment terms.
Additional demands included restoring Packing Credit at 7 per cent interest and expanding the Pre-shipment Credit Scheme to Tk10,000 crore with extended tenure.
The governor assured that the central bank would take supportive measures to stabilise liquidity and prioritise timely wage payments.
