Bangladesh Knitting Owners’ Association (BKOA) announced an indefinite closure of all knitting factories starting July 15, demanding higher production rates due to rising costs driven by the taka’s depreciation against the US dollar.
A 40% increase in the dollar’s value has led to soaring costs for imported raw materials, labor, and utilities. BKOA President Salim Sarwar highlighted that 30% of factories have already closed, proposing increased prices for various fabrics to sustain operations. The strike aims to address these financial challenges.
The association proposed increasing prices for different fabric types. BKOA President Salim Sarwar noted that 30% of knitting factories have already closed, with the industry facing significant financial challenges, including increased costs for raw materials, labor, and utilities.
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