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A billion dollar losses only in Narayanganj knit garments factories

BTJ Desk Report
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A billion dollar losses only in Narayanganj knit garments factories

In Narayanganj, all garment factories were closed, and internet connections were disrupted for six days due to unrest related to the quota reform movement. During this period, two garment factories were reportedly set on fire. Business leaders claim that the knitwear sector in Narayanganj suffered losses exceeding $1 billion. Additionally, the country’s image has been tarnished, which could impact the economy.

S B Style Garments, owned by Md. Shahjahan, was attacked on July 19, resulting in damages exceeding Tk 120 crore. Other businesses, including Abdul Kader Mia’s garment factory, also faced arson attacks.

BKMEA Senior Vice President Fazle Ehsan Shamim expressed concern over the negative international media coverage, which has alarmed European buyers. BKMEA Executive President Mohammad Hatem noted that Narayanganj’s knitwear sector produces and markets goods worth $160 million daily, resulting in losses of around $1 billion over six days. The internet disruption has further affected order placements.

Mr. Hatem emphasized the need for a swift resolution to restore internet speed and mitigate the economic impact on the garment sector.

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