Cancel Orders in the Ready-made Garment Sector of Bangladesh

Cancel Orders in the Ready-made Garment Sector of Bangladesh

Due to the ongoing strike-block, factory owners have faced to huge loss. Around US $37 million has already been canceled orders for readymade garments. With the discount, the products are sent by plane, shipping delays and losses of 61 million dollars would sabotage the loss.

Five factories have sent their losses summery in BGMEA (Bangladesh Garments Manufacturers and Exporters Association) office. The factories are Magpie Knitwear, Magpie Composite, Creative Woolwear, Bengal Poshak and Arbah Textile. The first of the three institutions are Magpie Group.

Workers in RMG industry

According to BGMEA information, around $3.7 million 4 thousand 850 dollars orders have been canceled for the consecutive strikes and blockade. The companies with the loss of 39 thousand 901 dollars in discounts. Send an additional cost of $71 thousand 508 aircraft products. Violence losses 1 thousand 282 dollars. The merchant shipping delays or stranded goods worth 2.2 million 98 thousand 881 dollars. In all, the loss of 6.1 million 16 thousand 422 dollars. RMG owners were discounted due to political instability in 9 thousand crore dollar product in the economical year 2013. More than half of the money was sent by plane to 5 thousand crore dollar product.

BGMEA leaders on Monday (19 Jan, 2015) held a meeting with the buyer. The buyers of the nine companies in the current political instability in other countries to remove them temporarily to orders. Many organizations in the calculations are smaller than usual orders. They say they are monitoring the situation and increase orders.

TextileTribune News Desk - Bangladesh

11:22 AM