The closure of over 50 knitwear factories within one year has led to more than 35,000 workers losing their jobs, with additional closures anticipated in the coming months. This situation has resulted in significant financial losses for factory owners and a decline in the country's export earnings. Displaced workers, facing unemployment, are increasingly turning to criminal activities.

The destruction of factory properties exacerbates the problem, causing job losses among workers. Unjust factory closures lead to legal actions and arrests. In my vicinity, several factories have recently shut down.

A large factory owner recently expressed concerns to me about meeting monthly salary obligations and bank loan repayments, fearing potential imprisonment due to financial constraints.

A concerning video clip from an Indian news source has been circulating on social media, highlighting the alarming situation for our country. It details the volume of orders lost due to worker unrest and the subsequent redirection of these orders to India.

Several factors have contributed to the current state of the ready-made garment sector, with labour unrest being a significant issue. This unrest has led to shipment delays and cancellations, prompting banks to withdraw their support.

Unethical behavior from buyers has also caused distress for many. Some individuals, posing as buyers, establish offices in Dhaka, place orders, and then engage in fraudulent activities, entrapping factory owners and leading to factory closures.

Bank non-cooperation is another critical factor. Over the past one to two years, banks have been uncooperative, delaying Letters of Credit (LCs) by 20-25 days. This forces hurried procurement of goods, incurring additional costs for air shipments, resulting in financial losses—a situation I have personally encountered.

Despite these challenges, misleading statements about the garment industry have been made. If one were to look closely, they would see the dire situation faced by 95% of garment factory owners.

If garment exports cease, the country's situation would deteriorate significantly. It's crucial to consider the potential impact of negative statements about the garment industry.

Mohammad Hatem is the President of the Bangladesh Knitwear Manufacturers and Exporters Association (BKMEA).