May 19, 2021

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Production and export process must be continued in compliance with health rules: Commerce Minister

Commerce Minister Tipu Munshi has called upon all types of garment factories in the country to continue production and export process in compliance with hygiene norms so as not to be affected by the Corona epidemic. He said the corona attack has started again in the country. To get protection from this, the government has directed to follow the 18-point directive. It must be obeyed by all.

He was speaking as the chief guest at the inauguration ceremony of the factories of Deshbandhu Group’s Southeast Sweaters Limited and GM Apparels Limited in Uttarkhand, Dhaka on Wednesday (March 31).
“Even when the world is stunned by the corona virus epidemic, our factories are still in operation,” he said. It is true that the damage caused by the corona, but we do not stop.

He said that one modern green factory after another is being set up in the country, adding that two more garment factories were officially inaugurated today. The new company will export ৩০ 30 million worth of goods in two years.
It is to be mentioned that 9 million pieces of ready-made garments worth US ৫০ 50 million will be exported to the two factories every year on 600 automatic sweater making machines on 6 floors of 320,000 square feet.

Deshbandhu Group Chairman Golam Mostafa presided over the function. Dhaka-17 MP Alhaj Mohammad Habib Hasan, DMD of Fast Security Islami Bank Masudur Rahman Shah, Managing Director of Uttara Finance and Investment Limited SM Shamsul Arefin, Managing Director of the two factories. Mahbubur Rahman Lucky and Golam Rahman, Managing Director of Deshbandhu Group spoke.

There was an outbreak of corona almost all the time last year. This has reduced both the disbursement and collection of loans in the industrial sector. A total of 3 lakh 61 thousand 303 crore loans have been disbursed in this sector during the whole period of 2020. In 2019, which was 4 lakh 26 thousand crore. As a result, the distribution has decreased by 15 percent or Tk 63,060 crore in one year.

Talking to the concerned officials of Bangladesh Bank, it was learned that the disbursement of loans in small and medium enterprises (SMEs) had started increasing as compared to large scale industries. However, since the beginning of last year, the SME sector has suffered the most due to the increase in the incidence of corona. However, considering the losses of these industries, the government announced a total of 21 incentive packages worth Tk 1,21,353 crore for the victims of various sectors including CMSME, industry and services in April last year.

Meanwhile, due to the growing influence of Corona, the entrepreneur could not repay the loan on time. As a result, the collection has decreased a lot at this time. However, the rate at which the disbursement and collection of loans in the industrial sector declined at the beginning of the year has improved towards the end.

The amount of defaulted loans has increased slightly compared to the same period last year. Due to the rule that defaulters cannot be made if they repay the loan during the whole of last year, the rate of default has not increased at the rate it was supposed to. At the end of last December, the arrears of the banks in the industrial sector stood at 5 lakh 72 thousand 352 crore. At the end of the previous year which was 5 lakh 46 thousand 410 crore. This means that the arrears have increased by 4.56 percent. Although the arrears have increased at this rate, the defaulted debt has increased by only 0.64 percent to Tk 45,415 crore. At the end of 2019, the defaulted loan was 45 thousand 128 crore rupees.

According to the central bank, banks disbursed industrial loans worth Tk 1,534 crore in the December quarter. 1 lakh 11 thousand 623 crore in the same quarter of the previous year. As a result, the distribution in that quarter has decreased by Tk 11,069 crore or 9.93 percent. However, the distribution rate was lower in the previous two quarters. Compared to the same period of the previous year, in the last quarter of September, it decreased by 12.6 percent to Tk 94,650 crore. In the June quarter, it decreased by 35.25 percent to Tk 84,256 crore. However, before the onset of Corona’s effect, it increased by 1.93 per cent to Rs 91,062 crore in the March quarter.

In 2020, besides distribution in the industrial sector, the collection has decreased by 7.92 percent to Tk 3,19,264 crore. Last year, the collection was 3 lakh 50 thousand 530 crore. In the last quarter alone, the collection has increased by 3.72 percent. In the quarter of December 2020, where 92 thousand 618 crore rupees was collected. The collection during the same period last year was 69,426 crore.

Ittefaq / BAF

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