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Due to competitive prices we have to be efficient in production by adopting new and efficient technology and techniques. Rakibul Islam Khan, Managing Director, Pakiza Knit Group

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pakiza Managing DirectorTextile Industry is the main foreign remittance earning sector for Bangladesh. This industry suffered a lot during the COVID -19 pandemic. Now the industry is trying to recover the gaps. According to many sources it is evident that most of the export-oriented garments factories are packed with business orders up to April 2022.

Team Textile Focus talked with different factory owners regarding how to capitalize on this situation and what is the way forward to ensure maximum profit out of it. Rakibul Islam Khan, Managing Director, Pakiza Knit Group shared his views-

Actually, our biggest challenge is to manage the unstable yarn prices. To maximize profit, we have to be intelligent when procuring the yarn. Also due to competitive prices we have to be efficient in production by adopting new and efficient technology and techniques.  

Although this might sound a generic response but in reality, we have to do this in order to get the maximum profit in this situation as price of all raw materials have increased by 15 to 20 percent but our buyers have not increased their garment prices.