In wake of the worldwide pandemic outbreak of Covid 19, resulting in thousands of stores getting closed across the world; Bangladesh is facing a very glooming future. Brands and buyers are cancelling their orders. Buyers and brands are avoiding responsibility towards their business orders as they themselves are facing disastrous situation.
Reports suggest, business orders worth Tk 20,000 - 25,000 crore ($2.36-2.4 billion) are expected tp be cancelled. This is the amount of projected value of goods that are in port, onboard and in production for delivery. In the same way, another Tk 20-25 million worth of cloth fabrics is stitched or has been cut for stitching. Another Tk 250-300 million worth of fabrics has been ordered to different suppliers whose value has already been paid from the bank. That is how, Bangladesh industry now already owes worth billion of Taka in this phase.
Bangladeshi manufacturers are scared, if the present crisis stretches further then most of the manufacturers will not have the money even to pay their electricity bills. And they are worried about expenses to meet ahead of Eid festivity for their workers, if things don’t improve.