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Reconsider fuel price hike: BGMEA

Staff Correspondent
21 Nov 2021 00:00:00 | Update: 21 Nov 2021 01:25:48
Reconsider fuel price hike: BGMEA
BGMEA President Faruque Hassan speaks at a press conference on Saturday – Courtesy Photo

Bangladesh Garment Manufacturers and Exporters Association (BGMEA) has urged the government to reconsider fuel prices considering the declining trend of prices on the international market.

At a press conference to inform the media about his recent Europe visit, BGMEA President Faruque Hassan said the fuel oil price hike had pushed up the manufacturing cost by up to 5 per cent.

The government raised diesel and kerosene prices by Tk 15 on Nov 3. A day later, the retail price of 12kg LPG (liquefied Petroleum Gas) was increased by Tk 54 to Tk 1,313.

Faruque said he visited UK, Belgium and Scotland and attended meetings representing Bangladesh and the readymade garment sector as part of ‘Apparel Diplomacy’.

“We (BGMEA) highlighted our achievement, especially our green initiative,” he added.

Faruque said that BGMEA held a roundtable meeting with British brands and retailers. “We informed them that due to high price of raw materials, our manufacturing cost increased and the buyers have not adjusted it. We urged them to increase product price,” Faruque said.

In the recent tour, BGMEA attended the 36th World Fashion Convention, organised by the International Apparel Federation (IAF). BGMEA called for responsible purchasing practice, address workplace safety and workers welfare, Faruque said.

“Bangladesh will host the 37th IAF convention on November 2022 with BGMEA,” he added.

At the press conference, the BGMEA president urged his members to stop taking work orders below the break-even level and ensure fair prices.

Faruque said they were going through a tough time. In last one year, yarn price rose 60 per cent, freight fare 350-500 per cent, chemical price 40 per cent, worker wages 7.5 per cent and electricity price 13 per cent.

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