In the wake of the government’s recent announcement of a new minimum wage structure for garment sector workers in November, a notable challenge has surfaced, as revealed by a survey reflecting the perspectives of 66 entrepreneurs in the industry. Surprisingly, despite consumer appeals for increased product prices to support the new wage, a significant 79 percent of buyers and companies have not implemented adjustments. This revelation was shared during the ‘Forum Meet the Press’ event at the Capital Dhaka Club, where Forum leader and BGMEA director Faisal Samad eloquently presented the survey findings. Additionally, the report indicated that a modest percentage of buyers, ranging from 1 to 4 percent, have indeed raised product prices by various percentages. Further insights revealed that in 2023, 32.8% of apparel manufacturers reported a noteworthy 26-50% year-on-year increase in customs and bond expenses. Despite these challenges, RMG factories are persisting at 27.5% below capacity due to a lack of orders in the previous year, with owners anticipating a significant 62.21% decrease in orders for the next four months.
