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Change Your Life! |
Bank
to rehabilitate apparel industry |
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News |
July 4, 2000
Dhaka
(UNB)- Sonali Bank has agreed to rehabilitate some 20 export-oriented
garment factories closed for long following their problems with the bank. The
factories, located in Dhaka and Chittagong, were barred from opening LCs
as some of their outstanding loans became classified. Many
of those factories faced “stock lot” due to movement in 1995-96,
floods and other reasons beyond their control, leading to loan default.
Following
June 2-3 negotiations between a delegation of the apex garment-sector body
and the bank management, the state-owned bank has agreed to reschedule the
loans and take steps to help the factories restart their business. BGMEA
vice-president Anisul Haque in a statement yesterday (Monday) appreciated
the positive gesture of the bank, saying the initiative of the Sonali Bank
will help strengthen the export sector further. He
hoped other banks would also come up to resolve their existing problems
with the garment factories. “We
have some more cases pending with Agrani and Janata banks and we’ll take
up those gradually with the authorities of respective banks,” Chief
Executive Officer Uzair Afzal FCA told UNB.
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