Dhaka, Bangladesh (BBN)-Mosharraf Hussain, the managing director of the fire-ravaged Standard Group, is hopeful of achieving this year's export target.
The group, whose garment exports stood at $330 million and $325 million in 2013 and 2012 respectively, is targeting to hit $350 million-mark this year.
Six apparel units out of 22 of the group were gutted to ashes on November 28 last year in Konabari of Gazipur.
“I am fighting back. I am recovering fast, as everyone is helping me. You can say I am lucky,” Hussain, told reporters recently.
Double shifts have been introduced in the remaining 16 units to meet the target, the 71-year-old said.
The group had incurred a loss of BDT 10 billion due to the fire.
Bangladesh Bank has come up with a soft loan proposal of $25 million, while the foreign banks operating in the country have also pledged to allocate $25 million at 5 percent interest rate and the amount will help the group to achieve its target, said Hussain, also a civil engineer.
At least 12,000 workers were working in the extinguished units, and 90 percent of them have already been engaged in the group's other units.
“The door is still open for the remaining 10 percent if they want to join back,” Hussain said adding that the company is also ready to pay compensation to them as per the laws of the land.
As for the burnt-out buildings, which spanned on 6.5 lakh square feet land, he said they have been abandoned for now, but a Thailand-based consulting firm along with some Bangladeshi experts is examining to find out whether it can be used.
“I am here today despite so many ups-and-downs in my business over the last 30 years. said Hussain, who started his garment business with a small factory at Kalabagan in Dhaka in 1984.
More than 50,000 people have been working in the group at present.
BBN/MJI/ANS/22Apr14-2:20 pm (BST)
