Bangladesh's garment industry battered by power shortages and rising energy costs
By
The Economist
Summary
Bangladesh's garment industry, the country's main economic sector, is facing severe power shortages and rising energy costs. The war between America/Israel and Iran has exacerbated the situation, leaving Bangladesh desperately short of power. Garment factories, particularly spinning, knitting and dyeing mills, rely heavily on gas and petrochemicals, with 95% of oil and gas imported from the Gulf. Rising costs have already led to mass layoffs, with Al-Muslim Group sacking nearly 1,900 workers from its Dhaka factories on June 6th.
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bskyBangladesh's garment industry battered by power shortages and rising energy costsecon.stKey quotes
· 3 pulledThe WAR that America and Israel launched on Iran may be over, but Bangladesh remains desperately short of power.
The country's spinning, knitting and dyeing mills guzzle gas and petrochemicals—and around 95% of Bangladesh's oil and gas comes from the Gulf.
On June 6th Al-Muslim Group, a large clothing exporter, sacked nearly 1,900 people from its knitwear and denim factories in Dhaka, the capital.
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