The President of Bangladesh’s apex garment makers’ body BGMEA has stated any hike in power tariff will have serious implications on the country’s readymade garment industry.
Faruque Hassan, who heads the Bangladesh Garment Manufacturers and Exporters Association, reportedly, said this with reference to Bangladesh Power Development Board (BPDB), reportedly, seeking to increase the bulk electricity tariffs by around 66 per cent.
Speaking to the media, the BGMEA chair said hike in power tariff will not only shorn the industry of its competitive edge,but will also disrupt the industry’s recovery from the pandemic’s fallouts.
Underlining the industry has incurred huge losses over the last two years on account of the pandemic and has been making a turnaround lately, Faruque said the industry does not want even 1 per cent hike in power tariff at this critical juncture.
“…Any power tariff hike will only add more burden,” further added the BGMEA President while adding the industry is already struggling on account of price increase of raw materials, falling price of apparels abnormal increase in shipping cost.