Bangladesh’s textile garments industry has been suffering a lot during this pandemic situation. It has largely affected order decrease due to the COVID-19 outbreak. Last year the industry survived with some good initiatives and government support. As the country is largely affected by the second wave of COVID now it’s really a very hard time for this industry. Recently the BGMEA election has been completed and new BGMEA committee with the leadership of Mr. Faruque Hassan has taken charge for 2021-2023.
Textile Focus has been talking with BGMEA members’ company owners regarding the expectation from the new board. Hasin Arman Director, MB Knit Fashion & Treasurer, BAYLA expressed the wish to the new BGMEA board.
Behind every successful economy, the manufacturing industry has been the key player just like Bangladesh has its RMG sector. Recently the new committee of BGMEA has taken the oath. To move forward this industry needs immediate decisions and a proper autocratic management system to run successfully and I believe this new team is a mixed combination of our two generations which has made this board greater than ever. I really do appreciate the participation of our second generation in the election. The young generation has that drive to take immediate actions also we are more adapted to the current world and scenarios.
When I talk about sustainable business, I mean profitability. Workplace safety, fire safety, maintaining wages, going green all are some of the components of sustainability but these don’t come free. To ensure these we must make a profit. That’s why profitability is sustainability.
I would really expect a proper negotiation with the brands for the overall price idea and raising awareness about the price reduction from the board. Also, I would expect this board to be more research-oriented, brand the industry nationally and internationally, working on the floor pricing, thorough research on product diversification within the RMG, to work on flexibility and sensibility within the banking, custom, vat and tax, bond and applying bold negotiation strategies. Also, it’s time stakeholders should have seminars or webinars on demand and supply, to let the entrepreneurs understand how many orders to take and how not to be controlled by brands.
The second generation of this industry also has recently formed this organization called BAYLA, as a part of it I would like to congratulate the new board again, also BAYLA will work closely in the above areas to ensure a sustainable business for RMG of Bangladesh.