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Readymade garment sector is in dire straits |
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February 3, 2001
Dhaka--(UNB) – Country’s largest forex earner readymade garment sector is heading towards a dire state as only 12.5 per cent factories are doing well at present. Out of around 3000 factories, one-third (1000 units) have already been facing closure, half (1500 units) struggling desperately to survive and only 500 units doing well, said one of the first generation RMG entrepreneurs. He said the tragic scenario of the sector was the outcome of some crippling problems that the leadership of the sector has so far failed to take up with the government for solution. He identified problems with banking, power supply, port and customs, market access, training, quota and trade management, licensing system and labour management. “Earning from the sector would climb as high as US$25 billion per annum in next 5-10 years if the problems are solved,” the entrepreneur, Engr M Abu Taher, told newsmen on Thursday night. An export target of US$5 billion is set for the current fiscal mostly depending on the well performing 500 factories. He said failure of the leadership so far multiplied and compounded the sector’s setback that instigated him to float ‘Progressive Forum’ to lead the sector. Engr Taher-led Progressive Forum submitted nomination papers to vie for the February 22 BGMEA election offering 8-point programmes for the way out of the closed and struggling factories. The programmes included interest-free rescheduling of bank loans without down payment, 25 per cent cash incentives on value addition of exports, solving customs and port problems, removing electricity failure and peak hour billing system, duty and quota-free market access to USA, setting up garments palli, introducing single licensing system and accepting buying agents as associate members of BGMEA. Progressive forum is among four groups of competitors in the BGMEA election. |