Home / Knowledge / News / Apparel/Garments / BGMEA urges govt to rollback fuel price hike

BGMEA urges govt to rollback fuel price hike

15
Nov '11
Expressing grave concern over fuel price hike, the Bangladesh Garment Manufacturers and Exporters Association (BGMEA) has urged the Government to rollback the hike in the prices of diesel and furnace oil and bring back the prices at their previous levels.

BGMEA President M Shafiul Islam Mohiuddin said fuel price hike would shoot up the production and transportation costs for the readymade garment (RMG) industry and would directly affect its competency.

He informed that many export orders were already negotiated by the entrepreneurs prior to the hike in fuel prices and a rise in the fuel prices would make it difficult for them to carry on with their production activities.

In order to counter power shortage issue, the owners of RMG industries are making use of captive generators, which require diesel and furnace oil to run, Mr. Mohiuddin revealed.

He said the country's garment industry is already ailing as the rise in prices of raw inputs like cotton in global market, power and gas outages, infrastructure issues, rising tax at source, high bank interest rates and other issues are making it difficult for garment entrepreneurs to carry on their businesses.

In such a situation, it may not be possible for a number of entrepreneurs in the industry to stay in their business while facing international competition and achieve sustainable export growth, especially after the recent hike in fuel prices, the BGMEA President said.

Fibre2fashion News Desk - India


Must ReadView All

Pic: Shutterstock

Textiles | On 8th May 2021

French Development Agency to invest $83m in Ivory Coast cotton sector

Over a period of five years, the French Development Agency (AFD) will ...

Pic: Juki

Apparel/Garments | On 8th May 2021

Japanese companies collaborate to develop sewing machine business

Juki Corporation and Pegasus Sewing Machine Mfg have entered into a...

Pic: Rocky Brands

Apparel/Garments | On 8th May 2021

Rocky Brands expands Made in America capabilities

Rocky Brands has expanded the offering of its Made in America product ...

Interviews View All

Textile Industry, Head honchos

Textile Industry
Head honchos

Marry craft and utility

Textile Industry, Head honchos

Textile Industry
Head honchos

Increased need for online fitting solutions as retailers shift to...

Textile Industry, Head honchos

Textile Industry
Head honchos

Blockchains will be in heavy use by early adopters by 2025

Sanjay Vakharia,

Sanjay Vakharia

One of the first few Indian denim brands, Spykar, established in 1992, was ...

Chendhuran Sundar,

Chendhuran Sundar

It manufactures and retails menswear garments in India under the brand...

Rajesh Vig & Ritu Vig,

Rajesh Vig & Ritu Vig

Rajesh Vig and Ritu Vig, promoters of the kidswear brand Happy Feet,...

Hemant Bheda, Arevo

Hemant Bheda
Arevo

Arevo, based in Silicon Valley in California, develops technology to...

Shujaul Rehman, Garware Technical Fibres

Shujaul Rehman
Garware Technical Fibres

Garware Technical Fibres Ltd (formerly Garware-Wall Ropes Ltd) is a...

Steve McCullough & Marco Weichert, Functional Fabric Fair & Design and Development GmbH Textile Consult respectively

Steve McCullough & Marco Weichert
Functional Fabric Fair & Design and Development GmbH Textile Consult respectively

Functional Fabric Fair is a trade-exclusive event showcasing the latest...

Archana Jaju, Label Archana Jaju

Archana Jaju
Label Archana Jaju

<b>Archana Jaju</b>’s Hyderabad-based eponymous label works with artisans...

Aprajita Toor, Aprajita Toor

Aprajita Toor
Aprajita Toor

The creations by Aprajita Toor were born out of a deep desire to create...

Niti Singhal, Twee In One

Niti Singhal
Twee In One

Best known for convertible clothing, Indian brand Twee In One by designer...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH

Leave your Comments


May 2021

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.


Advanced Search