The export earnings from garment export in September fell by 7.52 percent and in October, the earning may fall by 20 percent and is likely to dip further, said Bangladesh Garment Manufacturers and Exporters Association (BGMEA) President Faruque Hassan.
Addressing a press conference at the inauguration of the Center for Innovation, Efficiency, and OSH, he said going further the decline would be deeper if the energy crisis supplies for the textile sector are not fully restored. Moreover, he added that Russia-Ukraine has not shown any sign of easing. The BGMEA president warned that Bangladesh may not achieve the apparel export target at the end of this fiscal year due to the energy crisis, high inflation in the European countries that has resulted in decline of work orders.
The textile exports target was fixed at $46.80. In fact, it would be a miracle if even last year’s exports of $42.61 is achieved. He said the industry has no control over global and domestic events. Give us energy as per our requirement so that we make efforts to fetch more orders. He said BGMEA is in contact with the relevant ministries who have assured of regular gas supplies. He said low gas pressure reduces the gas efficiency substantially.
