CGAA leaders apprise problems to BB Governor

Chattogram Bureau :

Leaders of the Chattogram Garments Accessories Association (CGAA) held a view exchange meeting with Bangladesh Bank (BB) Governor Dr. A H Mansur at the BB Secretariat on Wednesday last .

The leaders apprised the complications and different obstacles of the Banks to which the Accessories traders and RMG exporters are suffering. They also mentioned about lack of timely LC payment in time , lessening export permits duration, suspending of export development fund , additional payments for obtaining credit report through third party and differences in currency exchange in case of imports and exports , the Accessories traders are on the way to closure.

The urged the BB Governor for quick intervention in this matter. Instantly BB governor calls upon concerned bank officials to resolve the discrepencies and Governor assures them to ease the bank formalities for RMG secror.In the meet,Executive Director of BB Saiful Islam, Director Md.Hasrunur Rashid, Director Md.Shahrar Siddiquie were present .

On behalf of CGAA , Vice President of CGAA Jamil Ahmed, General Secretary Md. Belal, Jt.Secretary Md.Nasiruddin, CGAA Directors Md. Mahmud Ahsan Titu, Md.Enamul Hoque, Office Deputy Secretary Hafez Ahmed were also present in it.

The CGAA leaders apprised the BB Governor that they are not getting payment of Back toBack LC in specific time for which traders are facing severe financial pressures.

They also mentioned about the overdue interests of the banks which is very expensive for the traders.

They demanded extention of EXP time for one year instead of present time of 120 days which was 180 days earlier. Lack of EDF facilities and facing of additional interests , the leaders of CGAA proposed One year for Exp duration.

The leaders of CGAA also allege about additional payment of 100-150 dollars for collecting import credit report . They also proposed to set up Data Bank in Central Bank to ease formalities in scheduled banks.

They also demanded the minimising differences of import export exchange rate by Tk.1-2 instead of present 5-8 taka. The BB Governor gave patient hearing to the demands of the CGAA leaders and ensures to resolve these problems very shortly, CGAA sources said.