Bangladesh Garment Manufacturers and Exporters Association (BGMEA) president Farooq Hasan said foreign buyers are worried about the ongoing instability in the ready-made garment sector and are not placing new orders for now.
He said this at a press conference at the BGMEA office in Uttara on Friday (November 12).
Farooq Hasan said, ‘The damage that has happened is that the buyers have kept the order on hold. If this situation continues, they will not place new orders. We are trying to convince them (buyers) that only 5 per cent factories are affected (due to instability), we are trying to solve it.’
Farooq also said that the new wage board should be implemented before the election, so that the poll issue does not come up in the meantime. We will formally inform (the government) about this.’
BGMEA president said that 130 garment factories are closed till Sunday.
Pointing out that the new recruitment will create an additional burden on the factories, Farooq said, “If a factory has more work, then the factory which has less work will take the work from there.” …It will be balanced and the excess capacity that has been built up will be mitigated to some extent.’
However, the BGMEA president could not give any information about the amount of financial loss due to the ongoing unrest. The press conference was attended by senior leaders of BGMEA.
Tags: Garment sector volatility worries buyers placing fresh orders BGMEA
