The Strategist

Clothing manufacturers warn of billions in losses


08/05/2021 - 03:58



Influential garment factory owners in Bangladesh have warned of disastrous consequences if orders for foreign brands are not fulfilled on time. Authorities will therefore allow export factories to resume operations despite record deaths from COVID-19. This was reported by The Guardian.



pixabay
pixabay
Authorities have decided to close factories, offices, transport and shops from July 23 to August 5 and to impose an isolation regime for a week as the number of coronavirus infections and deaths have reached record levels.

Mohammad Hatem, vice-president of the Bangladesh Knitwear Manufacturers and Exporters Association, said export orders worth about three billion dollars would be at risk if factories did not open. In this case, brands will divert their orders to other countries.

For this reason, more than 4,500 factories, which employ over four million people, are reopening. Hundreds of thousands of workers are flocking to major cities in Bangladesh.

The Republic of Bangladesh is one of the world's largest garment exporters. The industry is the backbone of the country's economy of 166 million people and employs about three per cent of the population.

source: theguardian.com




More
< >

Tuesday, September 21st 2021 - 10:46 Iraq expects oil price at $70 in 2022