BM Report:
The Bangladesh Garment Manufacturers and Exporters Association (BGMEA) sought to continue the support leading buyers provided during the pandemic and onwards.
BGMEA made the plea while reviewing minimum wages in a tripartite committee formed by the government.
BGMEA president Faruque Hassan described the situation as a ‘nightmare’ due to rising inflation and contractionary monetary policy.
“The unprecedented inflation, leading to contractionary policies by central banks in all developed countries, is affecting disposable income, spending, and demand for products. While managing the supply chain has become difficult at the retail end, we, the manufacturers, are in a complete ‘nightmare situation’ to manage our capacities, supply chain, planning, and forecasting,” Mr. Faruque described through a letter issued to the buyers recently.
Regardless of our position and stake in the global apparel value chain—as manufacturers or buyers—we are all passing through a tough time, he added.
BGMEA president reminded the buyers about the association members’ countless efforts and investments made to ensure workplace safety. He said garment makers followed strict health protocols during the pandemic, which proved the resilience of the industry.
Mr. Faruque mentioned in the letter the progress the industry made in logistics, which included launching textile imports from India through land ports, relaxing rules on partial shipment, opening cargo trains between India and Bangladesh, improving warehousing capacity in land ports, and relaxing mandatory fumigation from the USA, which will make business easier.
“We are working continuously to improvise ourselves. We are making all our efforts to make business easier and more efficient. More reforms and megaprojects are underway. These will surely excel our business in the coming days,” Faruque added in the letter.
