In case the impact of Coronavirus prolongs for 6 months, garment accessories and packaging sector in Bangladesh fear massive loss to the tune of Taka 1,500 crore as supply chain disruption will create shortage of raw materials for the sector hindering production.
“China is our largest trading partner and the outbreak of Coronavirus will have negative impact on global economic growth. Bangladesh is not out of it,” maintained President of Bangladesh Garments Accessories and Packaging Manufacturers and Exporters Association (BGAPMEA), Abdul Kader Khan at a press conference recently.
He added, “In the given context, if the impact of deadly Coronavirus prolongs for 6 months, it will cause losses to the tune of Taka 1,500 crore for the sector because of slump in production, and having to pay workers’ wages and utility charges as well as business losses.”
It may be mentioned here that garment makers in Bangladesh as well as the leather sector of the country are apprehending major business loss due to supply chain disruption and are already getting ready with back-up plans to handle such a scenario.