Bangla Press Desk: Some 14 garment exporters did not get payment worth US$7.6 million despite shipping apparel goods to Russia for last one year due to transaction complexities.
“Though there was a move to bring the money into the country through China, the measure failed,” Mohammad Hatem, president of Bangladesh Knitwear Manufacturers and Exporters Association (BKMEA), has said.
He requested the government for required measure in this connection proposing adjustment of the stuck amount against Bangladesh’s dues for the Rooppur Nuclear Power Plant or introducing a barter system.
Buyers failed to make payment due to transaction complications following US sanctions imposed after the onset of the Russia-Ukraine war, he said.
Mr Hatem was speaking at a programme held in a city hotel on Wdnesday to announce the election manifesto of his panel ahead of the BKMEA election scheduled to be held on May 10.
He is also the panel leader of, Progressive Knit Alliance, the sole panel that is contesting the BKMEA election with full panel of 35 candidates against 35 posts.
During the programme, he made a number of promises with priority attached to addressing complexities related to customs, bond and import of raw materials and exploring non-traditional market for further growth of the sector.
A total of 38 candidates– 35 from PKA and three independent candidates-are contesting the BKMEA election for the term of 2025-27.
PKA panel leader Hatem announced his panel’s 15-point election manifesto. The Panel, if elected, would work to address energy crisis and withdrawal of latest ban on yarn import through land ports.
Diversifying both the market and the ready-made garment (RMG) items would also be high on the agenda, he said.
The panel added that once elected, they would work to address unethical buying practices of buyers by black listing those.
Responding to a question, Mr Hatem said, “Bangladesh’s garment exporters will not face significant losses in sourcing raw materials due to the India-Pakistan war. However, border trade might be disrupted.”
Border trade might be affected not only with Bangladesh but also with Nepal, Bhutan and Sri Lanka, he ntoed. Highlighting exporters’ struggle over the issues related to taxes, customs and value-added tax (VAT), he also crisicised Bangladesh’s tax system terming it as ‘unfriendly’ to investment and business.
BKMEA executive president Fazlee Shamim Ehsan, among others, were also present at the event. Source: FE
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