Releases $136.6 million under ECF The International Monetary Fund on Thursday asked the government to ensure better work environment in the readymade garment sector. The IMF, while releasing $136.6 million loan, the third tranche under the Extended Credit Facility deal, said, ‘continued improvement in labour conditions
labour condition
US may strip Bangladesh of tariff breaks
The Obama administration may strip Bangladesh of import breaks following deadly accidents in the country’s textile industry, another sign of the pressure building on the southeast Asian nation to improve labour conditions, according to a report of the Washington Post. The move was prompted partly by a fire late last year
EU deeply concerned over labour conditions
Following the Savar tragedy, the European Union (EU), Bangladesh’s largest trade partner, has expressed deep concerns over the labour conditions in Bangladesh, saying that appropriate actions would be taken including through the GSP to motivate responsible management of supply chains involving developing countries.