Investment at Tk 12,000 cr may go in vain
Golam Mostafa Jibon : Country’s knitting industry owners are incurring losses at around Tk 800 crore per month due to manifold problems including high production cost and non-recovery of dues from the garments traders. Consequently, the investment of around Tk 12,000 crore may go in vain putting the sector on the verge of ruination.
Meanwhile, over 50 industries got shut down in the last six months centering the prevailed crisis, while many others are on the way to closure. Bangladesh Knitting Owners Association (BKOA) sources said, though, the production cost of knit clothes has been increased several times, garments owners are not providing fair prices of the knit products. As a result, knitting owners have been facing frequent losses for long.
Around 1000 knitting industries in the country are producing at least 30 lakh Kg of clothes daily that being used by export oriented garments.
Selim Sarowar, President of Bangladesh Knitting Owners Association (BKOA) told The Daily Industry that, knitting industries are facing extreme crisis that forcing them to shut down the industries.
He also complained that, garments owners are being benefited due to lack of unity between the knitting industry owners. Many knit traders take work orders with low rate. Consequently, other knit traders are deprived of works and earning.
Sarowar further said, “A-78 members subcommittee has been formed to evaluate the knitting value in a bid to recoup the losses.”
Shyamol Kumar, Chairman of Pride Textile Limited said, Garments owners don’t respect to the knitting industry owners. They pay advance money to the dyeing factories for works. But, they don’t pay arrears to the knitting industry owners even after passing long time from work completion.
Rakibul Hasan, Vice-President of the same organization said, “Cost of all things including workers wages, electricity bill, industry rent and prices of raw materials has become several times high compared to the previous time. But the earning of knitting industry owners is yet to increase.
According to the sources, most of the knitting industries are located in Narayanganj and Gazipur area. Over 1000 industries are now producing high and export quality fabrics, which is being used by the country’s apparel industries to produce best quality garments products. Now, the investment amount in the knit sector is over Tk 12,000 crore. If the sector gets proper support, it will help to keep greater contribution in the country’s economy.
Knitting industry owners urged the authorities concerned to provide proper patronizations to uphold the country’s knit industries’ tradition.