RMG sector in need of bailout package

Our readymade garments sector has been passing through a tough time due to political unrest over the last three months. We have lost many foreign orders already and the buyers are yet to be reassured about our garments industries. The Bangladesh Bank has taken some steps to reduce pressure on the investors but those are inadequate. The investors need immediate financial help at low interest rate in order to cope with the loss they suffered.
Many factories are on the verge of closing down due to liquidity crunch and unable to run their production smoothly. Many of them will find it difficult to pay their workers in the upcoming months. The banks are pressurising the investors to pay the bank interests and installments that remain unpaid due to the political stalemate. We are also experiencing periodic violence in our readymade garments sector which is a matter of great concern.
We have lost much of our business already due to political unrest, labour unrest and negative publicity in the local and international media. The government should extend help to the RMG owners to help them survive this critical time because livelihood of millions of people depends on it.
Mohammad Sohel Hara
Shahjadpur, Dhaka
sohelhara@hotmail.com