Although the income from garment exports has increased by 20 percent during the last one year, the frequency of supply orders has reduced in the last two months, according to Bangladesh Garments Manufacturers and Exporters Association (BGMEA) President Safiul Islam Mohiuddin.
“The buyers are opting for some neighbouring countries instead of Bangladesh, as these countries are providing some additional benefits to them”, the BGMEA President added.
He said that the country's export-oriented garment sector may face deceleration in the near future as the manufacturing cost has increased by 23 percent, owing to the rise in wages and interest rates of bank loans. This has resulted in the decrease of profit margins by around 30 percent.
In order to avoid slowdown, Mr. Mohiuddin asked the Government to provide adequate allocation for the garment sector in the next budget, resolve the gas and electricity problems at the earliest, and adopt integrated projects for enhancing skill development of the workers.
Fibre2fashion News Desk - India
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