Amidst some reports doing the rounds that some buyers have started cancelling or withholding orders, even if not as much as they did last year, against the backdrop of coronavirus’ second wave while some were, reportedly, yet to pay previous dues against already shipped goods, the Bangladesh Garment Manufacturers and Exporters Association (BGMEA) has started collecting information related to cancelled, withheld or unpaid work orders so as to determine the current state of due payment along with shipped or manufactured goods.
Media reports maintained this while adding the apex garment makers’ body has, reportedly, issued a circular in this direction to its member factories, to collect the required information.
Meanwhile, underlining that there was no alternative to overcoming the current situation other than by working collectively with courage and caution, BGMEA President Faruque Hassan, reportedly, stated that apparel manufacturers, last year, faced large-scale order cancellations or withholding even if foreign buyers reinstated a significant volume of work orders with conditions like deferred payments and discounts and that the current endeavour of the BGMEA was to understand the existing scenario, as to how much goods remain in stock as well as the amount of payment the exporters were yet to receive.
The BGMEA President further, reportedly, maintained that trade body has developed a web portal to collect information related to withheld, cancelled and unpaid orders while also calling upon the members to provide the information regarding the same.
