The Tk200 crore worth hosiery industry of Gaibandha has been facing a grave crisis due to the ongoing countrywide blockade and hartals enforced by the BNP-led 20-party alliance.
People involved in the hosiery industry said the sector did not suffer such losses in the last 20 years as it has in this winter season, due to a lack of clients.
Products worth more than Tk100 crore are now left unsold. The political violence and the consequent transportation crisis deterred the clients, making the factory owners count a huge loss.
The hosiery, which is an important sector of the small and cottage industry of Bangladesh, has been the main income source of more than 500 traders in over 50 villages of Gaibandha.
The remote villages of Kochashahar union of Gabindaganj upazila in Gaibandha are now home to about 7,000 skilled and semi-skilled artisans working in the hosiery sector. The clothes produced by them during the winter season are highly sought after not only by locals but also by the rest of the country.
The Noyarhaat market in Kochashahar union is the main trading place for these warm clothes. About 10,000 people are now employed in these shops, factories, and markets.
General Secretary of Nayabandar Cottage Industries' Association, the primary organisation of the hosiery traders, Iqbal Hossain, said the clothes are generally produced from the October to February. And these clothes are stored and sold during the rest of the year. However, sales are the highest during winter.
Nearly 30 types of products – scarves, sweaters, cardigans, blouses, caps, and socks etc – are made in these small factories. Wholesale traders from Dhaka, Narayanganj, Chittagong, Comilla, Sylhet, Rajshahi, and many other places of the country come to Noyarhaat to buy these woollen products.
Zahidul Islam, owner of Joya Hosiery, said many businessmen invested more than Tk1 crore in these factories, which meet the demand for warm clothes of lower and middle-income groups in the country.
President of Nayabandar Cottage Industries' Association Mizanur Rahman said a large chunk of sweaters and other products were left unsold in the factories due to the political crisis.
“Factory owners are now at risk of losing their investment due to slow business. This is the first time, in the last 20 years, that we are facing so much loss. This sector will collapse if the political violence continues,” he added.
Owner of Rahat Hosiery Abdur Razzak said the sector was already facing troubles since there was no bank loan available.
“We take loans from local businessmen at a very high interest rate and then go into production. Now, if we cannot sell the products, we will not be able to pay off the loan, let alone make any profit,” he said urging the political parties to consider the general public's misery and put an end to the political stalemate.
