Sick non-textile industries to get loans adjusted under exit policy

On Wednesday, Bangladesh Bank (BB) issued a circular relating to the exit policy for sick non-textile industries identified by the Ministry of Industries.

It said such sick industries would be able to adjust their loans up to Tk 5.0 million (principal amount) in three years. They will get a one-go instalment if they sell their immovable properties during the three years period.

Such loans should be treated as NPL as long as they are fully repaying the loans.

The sick industries need to pay at least 2.5 per cent as a down payment of the principal amount to avail of the exit policy.

The industries should have made their down payment at the rate of 2.5 per cent within 90 days of the issuance of the exit policy.

The banks will settle the applications of the sick industries within 45 days of receiving the applications from them.

The sick industries are those identified and listed by the industries ministry. The sick industries’ list does not include the garment and textile industries.