Sick mills\\\' owners seek PM\\\'s intervention for waiving bank interests

Owners of a group of sick mills urged Sunday Prime Minister's intervention in implementation of government's instruction to the banks regarding sick industries in respect of exemption of interests on bank loans.
The government in 1992 listed 1585 mills in different categories as sick and decided to give the mills scope to 'bail out' through waiving all types of bank interests on loans with an aim to save those from permanent closure.
After taking the decision, the finance ministry gave instruction to the banks concerned to act accordingly.
But the leaders of Bangladesh Specialised Textile Mills and Powerloom Industries Association (BSTMPIA) claimed that all the banks settled all claims with their parties amicably but Agrani Bank Ltd, a state-owned entity has not been complying with the instruction for a long time.
According to them, 31 mills under the association have been trying to resolve the problem but the bank authority from the very beginning showing negative attitude toward the millers' demand.
"We are trying to solve all the bilateral issues in light with the government's instruction but the high ups of the bank is not paying heed to the matter for an unknown reason," president of BSTMPIA, Azizul Huq said.
He said all the banks implemented the government's decision but only Agrani Bank is making undue delay in this regard.
Replying to questions from the reporters, the BSTMPIA president said that liabilities of the mills to the banks stood at Tk1.5 billion which was only Tk260 million in 1992.
He also said the managing director of Agrani Bank in a meeting on February 27, 2013 pledged to form a committee to implement the decision soon, but still the bank did not take any realistic decision.
"Agrani Bank now plans to sell all mortgaged properties of those mills to clear the liabilities disobeying the government's decision," Director of BSTMPIA, Salah Uddin Ahmed said.
"If the bank does not solve the issue amicably soon then the mill owners would have no way but to come out to street along with their families," he added.
According to the millers, most of these mills were the victims of illegal practice of export-oriented garment owners.
"After 1982, many exporters used to sell out most of their fabrics imported  under bonded warehouse facility in the local markets which forced local millers to close down factories," Nasir Khan, another mill owner said.  "We could not compete with the unholy practice and became sick."  
He said the mills are mortgaged and that's why the bank is not coming forward to solve the matter.
He, however, urged the government to urgently come forward to solve the problem and to create scope for employment of more than ten thousand people and to save family members of the millers.
The millers also threatened to go for hunger strike if any realistic steps are not taken forthwith.