The Beximco Group has sought support from the government to maintain its export-oriented garment and textile operations.
Beximco managing director Osman Kaiser Chowdhury sent a letter on September 19 to the Janata Bank鈥檚 managing director and key government advisers and BB governor Ahsan H Mansur.
In the letter, the group requested the government to transfer all outstanding dues as a block without interest until August 31, granting a 10-year period for debt repayment and a two-year moratorium.
Beximco鈥檚 demands also include establishing back-to-back letters of credit against export LCs, providing a bill discounting facility against local fabric and accessories supplies with a 10 per cent margin, and granting a packing credit facility at 15 per cent against export LCs or orders.
In the letter, the Beximco Group stated that they needed Tk 69.5 crore in August to pay workers鈥� wages.
Janata Bank provided a loan of Tk 55 crore for this purpose. The remaining amount was taken from a separate fund reserved for raw material imports.
However, due to the suspension of the Beximco Group鈥檚 regular loan facilities, concerns have arisen regarding the payment of September wages.
They mentioned that Tk 65 crore is needed to pay the wages for September.
Beximco assured that any new loans granted would be repaid within 120-150 days from export proceeds.
Such proposals came after the interim government cracked down on some large business groups, including S Alam and Beximco group owners amid allegations of money laundering and fund embezzlement after the fall of Awami League government on August 5.
Beximco vice-president Salman F Rahman was sent to prison and his bank account and bank accounts of his family members were frozen.
