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Bangladesh Textile Mills Association ( BTMA ), the apex platform of textile mill owners , will reportedly take actions against its members who were involved in loan scams as the real businesses of the sector are facing trouble in getting loans due to this .
“ It is unexpected that the businesses that have been in operation from the past 20- 30 years are not getting the required fund from the banks whereas a businessman who has been running business only for four years is getting Taka 5,000 crore from the bank ,” said Mohammad Ali Khokon , acting BTMA President , while addressing a press conference at the association ’ s office in the capital city of Dhaka recently .
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Khokon also complained that the equivocation of laws caused agonies for the honest businesses as banks provide interest waiver to the defaulters and |
mount various pressures on the entrepreneurs who are making their payments regularly . The trade association will now propose to blacklist those members and |
cancel the memberships of all the people who are involved in loan scams .
It is pertinent to mention here that a local newspaper earlier claimed that a state-owned commercial bank has disbursed Taka 5,504 crore to a single client – Anontex Group – which took the loan in the name of 22 sister concerns . As per rules , a bank can disburse only 25 % of its total capital to a single client but the amount is far higher than that , as the total capital of the bank is Taka 2,979 crore .
The BTMA has also urged the Government to take exemplary legal actions against those involved in the loan scams to remove the anxiety and bring back the lost faith over the banking sector .
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Bangladesh , the world ’ s secondlargest apparel exporter , witnessed a marginal rise in its exports to US $ 2.88 billion in the month of January 2018 . |
During the first month of the year , apparel exports contributed an overwhelming 84 per cent to the total export earnings of Bangladesh , which |
on an average remains just over 82 per cent .
The latest data from Bangladesh Export Promotion Bureau shows that in total knitwear and woven garments , earnings reached US $ 2.88 billion in January 2018 while it stood at US $ 2.81 billion in December 2017 .
The cumulative sum exceeded the strategic export target for July 2017 to January 2018 , set at US $ 17.18 billion , by 2.71 per cent , to reach US $ 17.65 billion . On a year-on-year basis , apparel exports during the said period marked an increase of 7.57 per cent as against the corresponding months of the previous fiscal .
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Woven garments occupied over 54 per cent of the total apparel export share at US $ 1.57 billion . On the other hand , knitwear – the sector seeing the bulk of automation – witnessed earnings of US $ 1.31 billion .
In September last year , exports from Bangladesh slumped significantly during the stretch of holidays , with a slowdown in exports of the apparel division . Then the apparel export amounted to US $ 1.62 billion .
According to data , the total exports from Bangladesh stood at US $ 3.4 billion – which was 2.55 per cent lower compared to the strategic export performance set at US $ 3.49 billion .
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