The Bangladesh Garment Manufacturers and Exporters Association (BGMEA) has urged the interim government to provide policy support to help the country’s garment industry navigate a challenging period.
In a meeting with Dr. Salehuddin Ahmed, Adviser to the interim government on the Ministries of Finance and Commerce, BGMEA President Khandoker Rafiqul Islam highlighted several pressing issues affecting the industry. These include a decline in apparel imports from major markets, rising production costs, concerns over gas and electricity supply, and the impact of bank reforms on factory operations.
To address these challenges, the BGMEA delegation proposed a series of recommendations, including:
- Short-term financial relief: A one-month soft loan to provide cash flow assistance.
- Loan default flexibility: Reinstating the Bangladesh Bank’s regulation for loan default from three to six installments.
- Utility connection protection: A temporary suspension of utility disconnections to provide breathing space for businesses.
- Safeguarding factory operations: Protection of factory operations amid ongoing bank reforms.
- Protection from individual actions: Safeguarding businesses from actions taken against individuals.
- Policy review and correction: The formation of a task force to address required policy corrections in the National Board of Revenue (NBR) and Bangladesh Bank to make them more business-friendly.
- Power security and pricing: Ensuring adequate power supply and competitive pricing.
- Measures against external influences: Addressing issues related to the disposal of textile waste.
In response, Dr. Salehuddin Ahmed acknowledged the garment industry’s significant contributions to Bangladesh’s economy and emphasized the need to focus on increasing value addition. He also urged the BGMEA leaders to remain vigilant on labor-related issues and ensure compliance with labor rights and environmental regulations.
The Adviser assured the BGMEA delegation of the interim government’s full support and promised a follow-up meeting to discuss their recommendations in detail.