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The group will develop action plans that focus on factories with immediate risks like inadequate emergency exits and structural flaws that could lead to a collapse. According to the agreement, funds used to pay for renovations may be generated through negotiated commercial terms, joint investments, direct payment for improvements, government and other donor support or any combination. According to the Worker Rights Consortium, one of the groups involved in the negotiations, the annual administrative cost per company is up to $500,000 per year. How much it will cost for repairs and renovations won't be known until all of the factories are inspected, the group said. But based on consultation with fire and building safety experts, the group speculated the cost could run $600,000 per factory. All 70 companies have been asked to send in data about factories they use by July 15. The information includes names, addresses and the physical layout of the facilities. The inspection reports will be made public. Six executive members of the steering committee have been elected and including officials of IndustriALL Global Union, UNI Global Union and the Bangladesh Council of Trade Unions as well as representatives of companies that have signed on to the pact. They include Inditex, N. Brown Group and PVH Corp. The International Labor Organization has designated a senior representative to serve as chairperson. The group has also begun to recruit both the chief safety inspector and the executive director.
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