Reduce fuel prices to facilitate economic recovery: BGMEA

Bangladesh Garment Manufacturers and Exporters Association (BGMEA) president Faruk Hasan has urged the government to reconsider the decision of fuel price hike for creating a stable business atmosphere, reports UNB.

He said that the production and transportation costs of the RMG sector have increased by five per cent after the recent hike in diesel price, the BGMEA president said at a press conference in a city hotel on Saturday.

"We haven't had much employment in the last two years because of coronavirus. In order to increase investment and employment, it is necessary to facilitate business and continue existing policy," Faruk Hasan said.

The BGMEA president said that despite the increase of orders in readymade garments (RMG) sector, the prices of the products have not been increased much yet.

"We are working to raise the prices of apparels. At the same time, we are asking our members to fix the price of the products on a fair basis with the suppliers considering the increase in the cost of cotton, yarn and other raw materials and freight. They should not take orders for products at any price lower than production cost," Faruk said.

Replying to a question, the BGMEA president said, "We are now getting a slightly higher price than before, but we are not getting the price compared to the costs of production and those have gone up." BGMEA members and senior leaders of BGMEA were, among others, present at the press conference.