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Bangla exporters protest new gas price

  

The gas price hike in Bangladesh should be withdrawn. So says the Bangladesh Garment Accessories and Packaging Manufacturers and Exporters Association (BGAPMEA).

BGAPMEA is a platform of around 2,000 small and medium accessories makers. It maintains the hike in gas price would squeeze the competitiveness of the industry, which is already faced with multiple challenges, while adding such an unusual hike would make the current situation even more complex for accessory makers.

BGAPMEA further says that the decision should be reviewed and the previous rate should be reinstated. Bangladesh’s export-oriented apparel sector has been hit by a power crisis.Production in many readymade garment factories has dropped by at least 40 per cent after the gas and electricity supply situation deteriorated sharply in recent weeks. Exporters are facing trouble producing the existing orders due to the shortage of electricity. They fear that if Bangladesh cannot produce and deliver the current orders on time, the confidence of international buyers will also decline amid a falling demand for textile products in the global market.

Bangladesh’s garment exports fell seven per cent in September 2022 for the first time in 13 months. In the midst of the slide in foreign currency reserves, both export earnings and remittance inflows decreased significantly in September 2022.

 
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