The Finance Ministry has waived Tk2,500 crore against outstanding cash assistance to the export-oriented readymade garment (RMG) industry and related sectors.

The government's decision is being seen as a big relief for entrepreneurs who are facing pressure to pay salaries and allowances and festival bonuses to workers and employees before the upcoming Eid-ul-Fitr.

The Bangladesh Garment Manufacturers and Exporters Association (BGMEA) has welcomed the government's move.

In a press release, the organization's president Mahmud Hasan Khan said that this cash relief will play an important supporting role for the industry at a time when there is additional pressure on the owners to pay salaries and allowances, bonuses, electricity and gas bills of workers before Eid.

The BGMEA said that the current board of the organization has recently held several meetings and discussions with the high-level government, the Finance Ministry and Bangladesh Bank to demand the release of the stuck cash assistance. In continuation of this, this fund of Tk2,500 crore has been approved in a short time.

According to the notification issued by the Ministry of Finance, the first phase of the third installment of the FY26 will be released at a cost of Tk1,500 crore and the second phase at a cost of Tk1,000 crore. A total of Tk 2,500 crore will be distributed in the two phases.

The organization has urged its member institutions to quickly contact their respective lien banks to complete the necessary procedures to receive the outstanding amount.

Those concerned say that in the context of shrinking demand in the global market, uncertainty in export orders and increasing production costs, this cash assistance will somewhat alleviate the liquidity crisis in the industrial sector and help pay the salaries and allowances of workers ahead of Eid.