Bangladesh Garment Manufacturers and Exporters Association (BGMEA) has expressed concern over the hike in fuel price saying it will have impact on export growth.
BGMEA President Faruque Hassan told UNB on Saturday that many garment industries will suffer losses and a number of them may face risk of shutting down.
“The export earning target set for this year unlikely to be achieved thanks to hike in fuel price. Garment owners will count loss for already received orders and many factories won’t be able to go for new production. As a result, the export target will not be achieved,” he said.
He said there is gas supply crisis in the factories and those are experiencing load shedding for 5-6 hours as per the government decision to save energy. In this situation, the increase in fuel price is a big challenge for the garment sector, he added.
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As prices of fuel have increased, transport fare and prices of goods will increase, said the BGMEA president adding the salary of the workers should also be increased and then there will be no other option other than closing down many factories.
In an abrupt move, the government increased the prices of diesel, octane and petrol by 42.5 percent, 51.7 percent and 51 percent respectively Friday night. Currently, diesel is being sold at Tk 114 per litre, octane at Tk 135 per litre and petrol at Tk 130 per litre.