Textile workers' strike
Manipulation and syndication are the major obstacles for the government to maintain price level of any item, be they industrial raw materials, daily essentials, food items, life-saving drugs etc. Stock market manipulation is a daily affair, for instance. We know the government is unable to apprehend pre-emptively on market reaction on any item, so it should have regular and constant watchdogs to monitor those sectors.
The textile sector is the most vital sector which earns foreign exchange for the country. In this sector the manipulators rule the roost as and when they like. The government agencies react only when the situation gets worse and impose or withdraw rules. Here the big syndicates play a major role which the government fails to apprehend before it goes out of hand.
What the major players do is that they create an artificial crisis or show stockpiles of their unsold products through media and the government without verifying the facts impose some restrictions. The Benapole import land route closed down in such a situation and the manipulators have been greatly benefited while the sector as a whole is suffering. The restrictions are draining out millions in import of fabrics while it is saving a few big local investors. Due to the restrictions, now the local market has also been hit hard and the people who are involved in the sector have become jobless. The policy has made a few rich but retrenched millions of workers.
The newspaper reports of strikes of industries and workers are the result of this wrong manipulated decision. The RMG sector has lost competitiveness in the apparel prices in the word due to unbalanced increase in prices of yarn by the spinners.
The government is not sure what to do. While both RMG and Knit Wear and local weavers are demanding easy availability of yarns, the government is reportedly planning to import yarn from South Africa. What a short-cut way! Will the SA yarn be cheaper than the ones available at the doorsteps?
For all latest news, follow The Daily Star's Google News channel.
Comments