In theory, this sounds like a good idea, but it is not so straightforward.

Garment suppliers in Bangladesh are facing difficulties in delivering goods to international clothing retailers and brands on time due to extreme load-shedding, BGMEA President Faruque Hassan said today.

Bangladesh’s garment manufacturers are pinning their hopes on the burgeoning Asian markets and the growing use of non-cotton apparel items to elevate their export earnings to $100 billion by 2030. 

Recessions don’t happen overnight, and people don’t stop spending from one day to the next.

In recent months, global energy prices have soared, and ready-made garment (RMG) makers in Bangladesh have been feeling its impacts these past few weeks.

Marking new possibilities, a garment consignment has left Mongla Port. A Panamanian-flagged ship named "Maersk Nesna" left Mongla Port for Poland at 11:30 am today (July 28, 2022).

The ongoing Russia-Ukraine war has started to have a heavy impact on garment shipments to Russia as export earnings are declining significantly from this promising market for Bangladeshi apparel goods. 

The additional 1 per cent cash incentive on the export receipts of readymade garments would continue in the next fiscal year as the government looks to boost the shipment of clothing items.

Bangladesh Bank has given AnonTex, which took more than Tk 5,500 crore from Janata Bank through serious irregularities, a controversial permission to take more loans from other state-owned banks as well, reschedule its loans and valuate its assets afresh to make it look like a healthy company.