Staff Reporter :
Power and gas crisis have catalyzed the dubiety to achieve the export target in FY 2022-2023. The government fixes the target to earn $67 billion in FY 2022-2023 by enhancing 11 per cent comparing with FY 2021-2022.
It is mentioned that the government earned $52.08 billion by exporting in FY 2021-2022.
The government has to spent more forex to buy gas, diesel as the price of fossil fuel has increased in international market due to Russian invasion in Ukraine.
As a result, the government is facing difficulties to generate more power. The government has started load shedding following rotation system which is continued about 4-5 hours in area base. Shortage of power greatly impacted to export-related production industries.
In a press briefing on July 20, Commerce Minister Tipu Munshi said the government targets to earn $67 billion by exporting in FY 2022-2023.
He said the government has taken the decision after analyzing the last FY export growth, government incentives to expand market, recent motives of world trade, and government stimulus package to face the Covid-19 shock.
Bangladesh has been earned lion share of its export from readymade garments sector. Bangladesh has earned 81.81 per cent of its export income from the garment sector solely. Besides, readymade garments growth has increased 35 per cent in FY2021-2022. Recent power and gas crisis have raised question to achieve the targeted foreign currency.
Bangladesh Knitwear Manufacturers and Exporters Association (BKMEA) Vice-President Fazle Shamim said we think this crisis situation will not stay long.
He said he thinks it will stay may be one or two months.
However, mentioning the export target as ambitious, Shamim said, it will be difficult to achieve. The Ukraine-Russia war has created a global recession. At this stage, it will be difficult to maintain more than 10 per cent growth compared to last financial year. Demand for clothes will
decrease worldwide; people will focus on daily necessities.
Bangladesh Garment Manufacturers and Exporters Association (BGMEA) Vice-President Rakibul Alam Chowdhury said about five thousand garment factories are running in the country. More or less every factory is affected due to power problem. Although the problem of electricity came into discussion recently, since last two months we were not getting electricity for four to five hours every day. If there is no electricity, generators have to be used as an alternative system.
Stating that it is not possible to run the entire factory with a generator as an alternative to electricity, he said, rationing has to be done in the factory as well. Maybe you have to keep one floor open and another floor closed. Sometimes two lines have to be turned off and two lines turned on. The cost of production is increasing several times. Again it is not possible to produce on time. This may delay the shipment of many.
