During the question-answer session in the Jatiya Sangsad on Thursday, he said this in response to a question from Member of Parliament Md. Ruhul Amin. Among the closed factories, 282 are under Bangladesh Garment Manufacturers and Exporters Association and 123 factories are under Bangladesh Knitwear Manufacturers and Exporters Association. Work is underway to collect the list of closed factories.
Industry
Over four hundred garment factories closed in three years: Commerce Minister
The minister said the factories were closed due to various reasons including the coronavirus situation, the Russia-Ukraine war, the Middle East conflict, the international economic recession, political instability in the country, liquidity crisis in the banking sector, and foreign buyers reducing orders to small and medium factories.
He also said that various cash assistance and additional facilities are being given to exporters to sustain the garment sector. At the same time, the government is implementing various steps to maintain Bangladesh's garment market in the global market.
More to Read
Meanwhile, the Commerce Minister informed parliament that regular market monitoring, special task forces and drives through the National Consumer Rights Protection Directorate are being carried out to control commodity prices. Legal action is being taken against irregularities such as hoarding, overcharging and creating artificial crises.