Dhaka, Oct. 15 -- On an avowed purpose of facilitating production and protecting jobs in beleaguered Nassa Group, the defaulter kingpin's loan worth nearly Tk 40 billion out of its accumulated debts is set to be rescheduled.

One of the giant apparel makers in Bangladesh, NASSA's loans have been taken from five commercial banks, insiders said Wednesday, as the bailout is prepared by the current interim government.

The embroiled owner of the corporate, Nazrul Islam Mazumder, is in jail for his roles during deposed regime.

"Since the NASSA Group is playing a vital role in employment and export earnings, the government has decided to permit rescheduling some of its loan through a legal procedure," said a senior Ministry of Finance (MoF) of...