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Diesel price hike will increase production cost, says BGMEA President

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Desk Report: Bangladesh Garment Manufacturers and Exporters Association (BGMEA) president said, due to recent diesel price hike will affect the RMG sector and production cost will be increase around 5 percent . He urges garments makers not to take work order of any item below their production cost. “Faruque Hassan said that, please do not negotiate the prices of apparel items below the production cost anymore as we are receiving adequate number of work orders but there is a fear of the return of a crisis in the supply chain.

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The local garment makers have been receiving higher prices and work orders with the gradual reopening of the advanced economies, he said at a press conference at Amari Hotel in Dhaka. on behalf of Uk, Belgium, Scotland business tour  .

Besides apparel manufacturers have been fearing the return of a crisis situation in the global apparel supply chain as the rate of Covid-19 infections has started spiking in different countries in the Europe, Hassan said. The international retailers and brands have been paying higher prices because of a hike in raw material prices and freight charges, he said. On the business tour BGMEA president urges to Uk buyers  for increasing clothing prices, BGMEA president added

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BGMEA President  said, yarn price increased by 60 per cent, container freight charge by 350 per cent to 500 per cent, dye chemical by 40 per cent and electricity by 13 per cent ,diesel  23 percent in the last one year when gas also became costlier,  Many of the local suppliers received the work orders last year at below production price mainly to keep continuation of their business during the pandemic time even with losses, he said.

Syed Nazrul Islam, First Vice President ;Mr. S.M. Mannan (Kochi), Senior Vice President, BGMEA; Mr. Md. Shahidullah Azim, Vice President, BGMEAMr. Khandoker Rafiqul Islam, Vice President (Finance), BGMEA; Mr. Miran Ali, Vice President, BGMEA; Mr. Rakibul Alam Chowdhury, Vice President, BGMEAMs. Barrister Shehrin Salam Oishee, Director, BGMEA; Mr. Asif Ashraf, Director, BGMEA;

Mr. Md. Mohiuddin Rubel, Director, BGMEA; Mr. Tanvir Ahmed, Director, BGMEA; Mr. Md. Khosru Chowdhury, Director, BGMEA ; Mr. Faisal Samad, Director, BGMEA;  Mr. Abdullah Hil Rakib, Director, BGMEA; Mr. Haroon Ar Rashid, Director, BGMEA; Mr. Rajiv Chowdhury, Director, BGMEA; Ms. Barrister Vidiya Amrit Khan, Director, BGMEA; Mr. Md. Imranur Rahman, Director, BGMEA; Mr. Mijanur Rahman, Director, BGMEA; Mr. A.M. Shafiul Karim (Khokon), Director, BGMEA; Mr. Md. Hassan (Jacky), Director, BGMEA; Mr. M. Ahsanul Hoq, Director, BGMEA; Mr. Mohammed Meraj-E-Mostafa (Kaisar), Director, BGMEA were present at the press conference.