CPD RMG Study Stitching a better future for Bangladesh
Every day, CPD RMG Study team reveals what’s on our economic and apparel radar and curates a selection of the best reports, opinion, and analysis you may have missed.
RMG factory inaugurated in Narayanganj jail
A 5,000 square feet Ready Made Garment factory was inaugurated in Narayanganj District Jail yesterday. This is the first full-fledged RMG factory in a prison in Bangladesh. The factory was built with the help of the district administration and the Department of Social Services. Some 300-400 prisoners of the jail have received training from BKMEA to run the factory in two shifts.
Total defaulted industrial loans increased by 30 per cent
Defaulted industrial loans have been rising at a worrying rate as total defaulted industrial loans increased to Tk 31,270 crore in the July-September period. The increase has been by 30 per cent from that of the same period of 2016. Total outstanding defaulted loan of bank and non-bank financial institutions increased to Tk 80,307 crore. Excluding the written-off loans the total stood at Tk 74,148 crore at the end of June 30 this year. The classified loans, without write-offs, were Tk 73,409 crore as of March 31, 2017 and Tk 62,172.32 crore as of December 31, 2016.
Settlement reached in Bangladesh Accord arbitration
IndustriALL Global Union and UNI Global Union have reached a settlement agreement in a case under the legally-binding enforcement mechanisms of the Bangladesh Accord on Fire and Building Safety. This settlement will ensure that the supplier factories associated with this leading fashion brand are remediated and that substantial funds are available for that remediation work consistent with the 2013 Bangladesh Accord. Global union federations, IndustriALL and UNI, launched arbitrations against two leading fashion brands in 2016. This settlement agreement applies to one of those two cases.
