Faced with a chronic gas crisis and volatile exchange rates, a number of ailing textile millers are putting their factories up for sale as they are no longer able to contend with losses stemming from dwindling production.
Bangladesh currently imports a minimal quantity of woollen fabric from China, Italy or England and produces high-value suits, shirts, pants, and knitwear sweaters for export, according to entrepreneurs
Investment has dried up in Bangladesh’s dyeing sector, a vital cog in the textile and apparel supply chain, owing to the dragging gas shortage despite higher demand for fabrics from local garment exporters, industry people say.