50 Star US Inc.
For the aim of ensuring decent salaries and the long-term growth of the sector, the BGMEA has urged overseas companies and purchasers to guarantee reasonable prices for clothing. Separate letters were written with the request to each of these brands' buyer representatives that source clothing from Bangladesh.
The letter, which was sent on Thursday and made a particular request to impose the raised tariffs beginning in December, went into great length about the general state of the apparel industry and outlined various justifications in support of doing so.
The new minimum wage for the nation's apparel industry will be revealed within this year, according to BGMEA president Faruque Hassan. He added that compared to the prior trend of salary growth and the total inflation of prices, this time the wages will rise fairly nicely.
In the letter, Faruque Hassan claimed that there is widespread excessive inflation. The Minimum Wage Board is examining the workers' pay in this case. However, the board is impartial and equally represents employees, business owners, and outside observers. The BGMEA president stated, "Wage Board operates autonomously. I find it challenging to predict how much the earnings will rise as a result.
Faruque Hassan also asked for an increase in clothing prices for consumers, taking into account inflation and worker quality of life. He asked for a fair price rise on the clothing shipping as of this December 1.
Due to inflation and rising manufacturing costs, such as those for gas, electricity, gasoline, transportation, and other expenses, the clothing industry is currently under pressure. To combat inflation, the central banks of major apparel-importing nations have used contractionary monetary policies. Consumer demand for apparel has decreased as a result of this. Continuous supply has become challenging due to declining demand on the one hand and growing production costs on the other. Entrepreneurs are working very hard to survive in the meanwhile.
According to the letter, in this case, it is requested to take into account a reasonable price increase starting in December for the maintenance of the supply chain, the sustained growth of the sector, and most importantly for the lives of the workers. In order to implement the new minimum wage, price increases are essential.
The 'zero tolerance' policy has been introduced in the industry, according to the BGMEA president in a letter to buyers, to enhance the working conditions in the apparel industry and safeguard worker safety. Huge sums of money have been invested by businesspeople in enhancing the factory's infrastructure and working conditions. Bangladesh has achieved internationally acclaimed success in this area.
In this journey of a forward-thinking industry, BGMEA is committed to giving the highest priority to sustainable development in accordance with the SDG vision. There are currently 202 LEED-certified garment manufacturers in Bangladesh, 73 of which are Platinum-rated, the highest rating. A defined sustainability vision that is in line with the priorities of the sector and supports its values is being implemented, with the goal of decarbonizing the industry and implementing circularity by 2030.
The BGMEA President thanked some major brands for their support and collaboration and stated that they are collaborating with BGMEA to drastically change the industry. Further cooperation like this is required to take advantage of the opportunities.
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