Thursday, June 13, 2024


Dhaka Tribune

Government buys 3 weeks to protect RMG buyers’ investment

Update : 12 Dec 2013, 08:07 PM

Labour and Employment Minister Khandker Mosharraf Hossain yesterday assured international buyers of readymade garments (RMG) that the present disruption in supply chain would come to an end by next two to three weeks.

“I’ve assured the international buyers that the ongoing political turmoil will be over within two to three weeks,” he told a press briefing after a meeting with the global buyers at his office in Dhaka.

He termed the crisis as “temporary” and said developing countries like Bangladesh suffer political turmoil in any election year.

The buyers have expressed concern over the security of their investment due to the recent violence, especially the torching of Standard Group garment factory. “I’ve given them 100% assurance of security of their investment after two to three weeks.”

Recently, the buyers sent a message to BGMEA expressing concern over vandalism and political unrest and they demanded security of their investment.

The meeting was aimed at boosting buyers’ confidence as they were scared by the recent political deadlock.

“As we are the poll-time government and have no authority over the administration, we cannot take decision and that’s why the buyers have to be a little cautious for the next two to three weeks,” he noted.

For the upcoming year like the past ones, he said: “We will provide 100% security to your (buyers) business and investment.”

The buyers apprised the meeting that they were searching new markets for sourcing RMG products, said BGMEA President Atiqul Islam, who was present at the meeting. “It is a great threat for us whether we will lose orders for this season. It would cast shadow on our export.”

The buyers would leave the country to source RMG products from Cambodia, India, Vietnam and china as they are scared about shipment of goods, he added.

Urging the political parties to shun confrontational politics, Islam said: “We are losing competiveness in the global market due to the political unrest.”

Replying to a question, the minister said the price issue of products has not been discussed at the meeting. The talks dwelt only on ensuring security and safety.

Replying to another question on stopping violence, he said it is not their duty to protect the fire others will set.

Meanwhile, the ministry has formed a 10-member steering committee to protect the apparel sector and resolve problems instantly.

Headed by the minister, the committee is comprised of representatives from buyers, BGMEA, BKMEA and other stakeholders.

The meeting was attended by Labour Secretary Mikail Shipper, Bangladesh Garment Manufacturer and Exporters Association (BGMEA) vice president Shahidullah Azim and BKMEA First Vice President Mohammad Hatem.  

Top Brokers


Popular Links