Bangladesh Knitwear Manufacturers and Exporters Association (BKMEA) has appealed to the central bank for extending the deadline of repaying stimulus loan.
They sought 42 months to return the remaining loan through 14 installments.
With extending deadline, the owners' organisation pressed home their several demands to Bangladesh Bank last week in a letter signed by BKMEA president AKM Salim Osman.
He said the production cost of readymade garments has skyrocketed in 2021-22 fiscal due to the worldwide container crisis, increase in yarn price and the raw materials in China.
Because of the increase of production cost, in the current fiscal, from July to November, the country earned 25.91 per cent of growth in knit garment export sector, he claimed.
Salim Osman said they are facing difficulties to ship the exporting goods due to the crisis of container and the vessel. With imposing several conditions including discount, buyers are still postponing and canceling the export orders citing various problems.
In the letter, the BKMEA president has sought US Dollars 300 million from the Export Development Fund (EDF) to tackle the liquidity crisis.