BGMEA seeks urgent policy, financial support to safeguard apparel sector

A BGMEA delegation met Finance Secretary Md Khairuzzaman Mozumder today (3 February) to seek urgent policy and financial support amid the crisis in the country's readymade garment (RMG) industry.

Led by BGMEA Vice President Md Shihab Uddoja Chowdhury, the delegation highlighted that the industry faces critical challenges due to global economic instability and domestic issues.

BGMEA warned that SMEs are especially vulnerable, and insufficient banking support could trigger industrial unrest, harming the economy.

To address this, they urged the government to expedite pending cash incentives from Lien banks and Bangladesh Bank and provide soft or low-interest loans covering six months of wages to ensure timely worker payments.

Apparel export growth fell 2.43% in the first seven months of the fiscal year, while October–December 2025 saw a 9.43% decline compared to the same period last year.

Industry leaders reported that around 400 garment factories have closed over the past year due to rising production costs, falling product prices, and reduced orders, with many more at risk.

They expressed concern that February and March will have only 35 working days out of 60 because of the national election, government holidays, and Eid-ul-Fitr, while March wages will double due to salaries, festival bonuses, and advance payments.

Finance Secretary Mozumder listened to the proposals and assured that necessary measures would be taken.

The delegation also included BGMEA Vice Presidents Md Rezwan Selim, Mizanur Rahman (Finance), and Director Faisal Samad.