Bangladesh’s clothing industry urges PM, BNP chief to save economy

Bangladesh's apparel industry have urged Prime Minister Sheikh Hasina and BNP Chairperson Khaleda Zia to save the tanking economy, hit hard by the ongoing political unrest.

Several organisations of ready-made garment (RMG) manufacturers and exporters submitted memorandums to Hasina and Khaleda’s offices on Wednesday.

The BNP-led coalition, which sat out the 2014 parliamentary polls, is enforcing an indefinite blockade since Jan 5 to press for a snap election.

Hasina on Wednesday told Parliament that arson attacks between Jan 5 and Jan 26 had killed 26 people and left another 133 burnt.

But the economy is bearing the brunt as violence on highways is hampering goods shipment – leading to a rise in prices in the towns and cities while farmers and local businessmen are counting losses.

Bangladesh’s RMG sector, the second largest in the world, is having a hard time. Apex trade body FBCCI has warned of moving the court for a ban on violent political campaigns.

An organisation of businesses recently said the economy had incurred a Tk 365 billion loss, equivalent to 2.7 percent of the GDP in the first 16 days after Jan 5.

“We’ve requested both the prime minister and the BNP chairperson that we want to survive,” BGMEA President Atiqul Islam said.

“The last 22 days of the blockade have made the situation unbearable for us. Our businesses have been shut,” he continued.

But perhaps the biggest crisis the sector faces is its image issue.

“[The ongoing unrest] is tarnishing our market’s image in the world. This loss cannot be assessed in terms of money,” the BGMEA chief added.