Bangladesh Garment Manufacturers and Exporters Association (BGMEA) on Wednesday claimed that all member factories have cleared workers' salaries for February and Eid bonuses.
BGMEA President Mahmud Hasan Khan said 99.91 percent of factories have paid February salaries, while 99.81 percent have completed the disbursement of festival bonuses.
Although not legally mandatory, over 64 percent of factories have also provided partial advance wages for the month of March to facilitate workers' holiday travel, he said at a press briefing in the capital.
BGMEA thanks govt for releasing Tk 2,500 crore in export incentives
BGMEA data revealed that export earnings fell by 3.73 percent during the first eight months of the current fiscal year.
The industry is currently grappling with a triple-pressure scenario: a global economic slowdown, geopolitical instability—particularly in the Middle East—and intensified international competition, he said.
Key indicators of the crisis include a 6.79 percent drop in the opening of back-to-back LCs for raw materials and a 1.76 percent decrease in the average unit price of garments, said BGMEA president.
Over the last five years, gas prices have surged by 286% and electricity by 33 percent, yet a seamless energy supply remains elusive, it said.