Bangladesh’s overall economy and the readymade garment sector in particular seem all set to face some hardships in the backdrop of the deadly Coronavirus breakout in China, which has so far claimed 1,666 lives, mostly in the worst-hit Hubei Province.
As per recent media reports, in February so far, only two ships have arrived at Chittagong Port from China that has given rise to fear of raw material scarcity in all major industrial sectors in Bangladesh, especially the readymade garment sector and the leather industry.
It is also now feared that if supply chains remain disrupted throughout the months of February and March, some 8 per cent of garment factories and workshops will have no option but close down for good.
Power sector, which is the most vital for all industries in the country, is expected to be affected the most in such a scenario as majority of power stations, working and under construction, heavily depend on supplies from China.
In case the provinces in China remain in what many feel nothing short of a lockdown, Bangladeshi power sector will have to look for new suppliers elsewhere, the report further underlined.