Tk1,600cr daily loss for apparel sector
The factories remain closed since Saturday for safety concerns. Consequently, the sector has incurred a total loss of Tk4,800 crore in the last three days, as per TBS calculation.
Due to closure of factories, the apparel sector is bearing a loss of Tk1,600 crore every day, Bangladesh Garment Manufacturers and Exporters Association (BGMEA) President SM Mannan Kochi said yesterday.
The factories remain closed since Saturday for safety concerns. Consequently, the sector has incurred a total loss of Tk4,800 crore in the last three days, as per TBS calculation.
In a statement, Kochi said, "International buyers are losing confidence and dependency on us. The amount of loss this incident is causing to our image cannot be explained in terms of money."
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Mohammed Hatem, executive president of the Bangladesh Knitwear Manufacturers and Exporters Association (BKMEA), told The Business Standard, "All of our factories were closed on Saturday. After talking to the home minister, we have decided to keep them shut on Sunday. However, no decision has been made for Monday.
"The country exports $160 million worth of goods daily. So, exports worth around $640 million would be hindered in the four days, starting from Thursday."
