Bangladesh Garment Manufacturers and Exporters Association (BGMEA) has urged Bangladesh Bank to strengthen policy support and extend key deadlines to help the readymade garment (RMG) sector cope with ongoing multidimensional challenges.

A BGMEA delegation led by Director Majumder Arifur Rahman made the request during a meeting with Bangladesh Bank Deputy Governor Dr. Md. Kabir Ahmed at the central bank headquarters on Wednesday, according to a press release issued on Thursday.

The association specifically called for an amendment to BRPD Circular-07/2025, seeking to extend the eligibility period for policy support for defaulted accounts from November 2025 to March 31, 2026.

BGMEA representatives said the extension would enable struggling and “sick” industrial units to access necessary support and resume normal operations.

They added that such measures could also help reduce non-performing loans (NPLs) in the banking sector and improve overall financial stability.

The delegation further urged the central bank to issue mandatory directives to commercial banks to ensure proper implementation of the announced policy support.

It noted that many eligible factories are missing out on benefits due to delays or lapses in execution by banks.

The BGMEA delegation requested more time for closed factories to apply for reopening.

While welcoming the government’s initiative to revive shuttered units, the association stressed the need for additional time to collect and verify accurate data from affected businesses to ensure a transparent and effective rehabilitation process.

Deputy Governor Dr. Md. Kabir Ahmed assured the delegation that the central bank would consider the proposals and take appropriate steps.

Former BGMEA Vice President Shahidul Islam, PR and Publicity Committee Chairman Masud Kabir, and senior officials from the Bangladesh Bank’s Banking Regulation and Policy Department (BRPD) were present.