Agency

As many as 270 now-closed sick garment factories may reopen soon after a government decision to facilitate their quick return to business.

An inter-ministerial meeting decided Tuesday that the finance ministry would "issue an instruction" for state-owned banks to write off interests on debts owed by these factory owners and re-schedule the repayment under a 10-year scheme.

After the meeting, bdnews24.com learnt from both commerce adviser Hossain Zillur Rahman, who chaired the meeting, and BGMEA president Anwar-ul-Alam Chowdhury Parvez that the finance ministry would take the step in two weeks.

"In a day or two, BGMEA will send the list of the 270," Parvez said.

"We have taken into consideration the contribution these factories have made to our exports, economy and employment," the adviser said.

They said a Bangladesh Bank directive would the follow the finance ministry notification.

In addition, the commerce ministry would ask the law and finance ministries to expedite disposal of cases lying with the bankruptcy and loan recovery courts.

The NBR would also be asked to waive long unpaid taxes by these companies.

Parvez said the BGMEA had decided to plead for these 270 out of 1900 factories gone out of business "due to national, international problems and various other reasons".

Those who also took part in the meeting included additional commerce secretary Golam Mostakim, joint secretary (export) Mostafa Mohiuddin, officials from the finance ministry, EPB, Bangladesh Bank, National Board of Revenue.

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