RMG Buyers Not Placing New Orders: BGMEA

Foreign buyers are concerned about the ongoing unrest in the readymade garments (RMG) sector and they are not placing new orders for the time being, said Faruque Hassan, president of Bangladesh Garment Manufacturers and Exporters Association (BGMEA).

"The damage that has happened is that the buyers are holding orders. They will not be placing new orders if the situation continues," he said in a press conference at the BGMEA office in the capital's Uttara on Sunday (November 12).

"We are trying to explain to them [buyers] that only 5% of factories are affected [by the unrest] and we are trying to find a solution."

Faruque also said the new wage board should become effective before the election, so that the issue of polls does not come in between. 

"We will officially inform [the government], in this regard."

The BGMEA president said 130 garment factories are closed as of Sunday.

Pointing out that new recruitments will create an additional burden on the factories, Faruque said, "If a factory has more work pressure, it will get the work done from other factories that have less work. 

"It will maintain a balance and the overcapacity that has been created will be mitigated somewhat." 

However, the BGMEA president could not provide any information about the amount of financial loss due to the ongoing unrest.

Senior leaders of the BGMEA were present at the press conference.