Clarifying a media report, BGMEA President Faruque Hassan on Sunday (November 05, 2023) said any attempt to generalize incident on the industry and the country at large is unacceptable. The news mentions about technical glitches such as choking and ingestion hazard found it specific product item for babies sourced and retailed by specific brand in specific country. "As the news report mentions about 12 countries withdrawing or recalling apparel made in Bangladesh, there is no reference to such claim, and we could not trace any evidence in support of this claim," he said. BGMEA ready to implement new pay structure govt announces by Dec: BGMEA President "We feel the urge to share this clarification so that misrepresentation of the fact is not repeated,' said the BGMEA chief. He also clarified the reference to OECD which was mentioned in the news report. OECD maintains a “Global portal on product recalls” and the OECD members’ product recall notices are listed in this portal. IMF delegation meets BGMEA President to discuss challenges and prospects of RMG sector Product recall for any valid reason is a standard practice and there are hundreds of such recalls listed in the OECD website as of today, said the BGMEA President. Furthermore, the OECD website mentions “Health Canada recalled more than 200,000 George Brand Sleepers on Wednesday for posing a risk of choking and ingestion. The recall of the product, sold at Wal-Mart, is for sizes 0-5T and affects two styles for boys and two for girls. Zipper pulls and foot grips of the sleepers may eventually separate after frequent washing, leading to choking and ingestion hazards, the agency said, adding it has not received any reports of injury in Canada.” "Therefore, the products were recalled due to certain risk of hazard, which is not the mistake of Bangladeshi manufacturer. Every product made in Bangladesh must pass through a stringent quality control process and laboratory tests including those of consumer health and safety," he said. All exportable products must meet the standards of the buyers and relevant legal requirement of the export markets. BGMEA seeks NBR support to sustain RMG industry's global competitiveness amidst ongoing challenges Any product failing to comply these health and safety requirement are usually rejected by buyers or denied entrance at the destination port. "So any misinterpretation like ‘apparel made in Bangladesh is banned in the mentioned countries’ is false," Hassan said. The alleged products were shipped from Bangladesh in early 2022 and were retailed in Canada from November 2022 to June 2023. Brunei High Commissioner meets BGMEA President to discuss trade-investment potential The product recall notice of Health Canada also mentions that “As of September 21, 2023, the company has not received any reports of incidents or injuries in Canada”. "I hope this statement of clarification will help all to clear any confusion on this matter and not to be misguided," said the BGMEA Chief.

Finance Minister AHM Mustafa Kamal has dismissed a media report that Bangladesh is seeking a loan of $4.5 billion in aid for economic recovery.  “Neither we placed any proposal to IMF for loan, nor IMF made any offer to us,” he told reporters while briefing on the outcomes of the two consecutive meetings of the Cabinet Committee on Economic Affairs (CCEA) and the Cabinet Committee on Government Purchase (CCGP) virtually held on Wednesday.  He made remarks while a delegation of the International Monetary Fund (IMF) has been visiting the country and holding meetings with  Bangladesh Bank officials.  “Actually, a consultative committee of the IMF is now visiting the country which has no issue to discuss any loans proposal”, he added, saying, “We don’t need any loan from the IMF right at this moment. We made no request for any funding, not any proposal came from IMF”. Read: Default loans cross over 126 crore: Finance Minister He, however, said if any loan is taken from the IMF, Bangladesh will never accept any condition that will go against the interest of the country. Responding to a question, Kamal said he has no idea about any  such list  of the countries, prepared by the IMF where Bangladesh was shown as economically vulnerable. “Bangladesh never failed to service its foreign debts, including that of IMF. No multilateral lending agency ever had to write off Bangladesh's debts”, he said.   he said.  He also dismissed the media report that IMF has a different calculation about Bangladesh’s foreign exchange reserves. Bangladesh calculates its foreign exchange reserves at at $42 billion while IMF sees it much lower.  “We have been calculating our foreign exchange reserves like other countries do ”, he said. The finance minister also disagreed with rate of inflation at 7.5 per cent, released by the Bangladesh Bureaue of Statistics (BBS).  “I don’t admit such figure. Inflation is never calculated on weekly or daily basis... no country calculates in such a way”, he said.