Economy
Resignation Rumors Swirl Around BGMEA and BKMEA Leadership Amid Political Turmoil
In a significant development within Bangladesh’s garment industry, Presidents SM Mannan Kochi of the Bangladesh Garment Manufacturers and Exporters Association (BGMEA) and Salim Osman of the Bangladesh Knitwear Manufacturers and Exporters Association (BKMEA) are reportedly stepping down from their roles, according to sources.
A senior business leader, who requested anonymity, revealed that both Kochi and Salim had maintained strong ties with Sheikh Hasina, but recent political upheaval has forced them into hiding. “Given the current circumstances, general members have urged them to resign, and they have chosen to honor this request,” the source stated, noting that these changes could become public within the next two days.
Opposition Calls for BGMEA Board’s Dissolution
The BGMEA opposition panel, known as the Forum, has intensified its demands, calling for the dissolution of the current board and the formation of an interim committee to facilitate a fair and transparent election for the trade body. This demand was formally submitted to the Ministry of Commerce, accusing the previous election held in February of being compromised by irregularities under the influence of the Sheikh Hasina-led government.
Ministry insiders confirmed that the petition was delivered to Dr. Naznin Kawser Chowdhury, the newly appointed Director General of the Department of Trade Organizations (DTO). They also hinted that if Kochi does not voluntarily step down, the government might intervene by appointing an administrator to lead the association.
Leadership Transition Expected
It is anticipated that BGMEA Senior Vice President Khandaker Rafiqul Islam may assume the presidency, while BKMEA Executive President Mohammad Hatem is likely to take over Salim’s position. Kochi, who was elected as BGMEA president in March for the 2024-26 term and also serves as the general secretary of the Dhaka North City Awami League, is currently in Singapore for his son’s medical treatment. He has denied any involvement in the violence that led to his legal troubles following the ouster of the Awami League government on August 5.
Expatriate Bangladeshis sent approximately US$ 2.11 billion in remittances during the first 28 days of September in the fiscal year 2024-25, according to data released by Bangladesh Bank on 29 September.
Of this total, state-owned and specialised banks handled $679.10 million, while private banks received $1.43 billion in remittances.
Chief Adviser to Bangladesh’s interim government, Professor Muhammad Yunus, has vowed to expedite reforms and hold elections swiftly. Yunus, who recently assumed the role after the collapse of Prime Minister Sheikh Hasina’s 15-year administration, expressed his commitment during an interview with Tokyo-based news outlet NHK WORLD in New York on Sunday. He was attending the United Nations General Assembly at the time.
Following mass student-led protests that ended Hasina’s long-standing rule in August, Yunus stepped in as the leader of the caretaker government. Known for founding Grameen Bank, an institution providing microloans to the underprivileged, Yunus, along with the bank, earned the Nobel Peace Prize in 2006 for his efforts in poverty alleviation.
During the interview, Yunus emphasized that the interim government’s primary mission is to implement reforms promptly and ensure elections are held as soon as the groundwork is complete. He underscored the importance of success, stating, “Failure is not something that we can accept.”
Addressing the pivotal role of students in the ousting of the Hasina administration, Yunus acknowledged the sacrifices made by young people, referring to their involvement as part of a “revolution.” He highlighted his intention to engage the younger generation in shaping policy.
Furthermore, Yunus called for continued support from Japan, Bangladesh’s largest donor, during this crucial transition period. He stressed that Japan’s assistance is vital to stabilizing Bangladesh’s economy and fostering a democratic foundation in the nation.
Syeda Rizwana Hasan, the Adviser for Environment, Forests, and Climate Change, announced today that steps will be taken to restrict the use of polythene shopping bags to safeguard future generations.
Starting from October 1, polythene bags will be banned in shopping malls, followed by a ban in kitchen markets from November 1.
“Everyone must take responsibility and stop using polythene voluntarily. Action against polythene producers will begin from November 1,” Rizwana Hasan stated during a seminar.
The Department of Environment (DoE) organized the seminar to raise public awareness about alternatives to banned polythene bags.
Rizwana Hasan highlighted that the restriction on polythene will be executed in phases according to legal provisions, and discussions with shopping centers and store owners are ongoing to ensure a smooth transition.
She also announced plans to make the government secretariat a plastic-free zone by December.
Other speakers at the seminar included Environment Secretary Dr. Farhina Ahmed, DoE Director General Dr. Abdul Hamid, Director Rajinara Begum, President of the Shop Owners Association Muhammad Helal Uddin, and Md. Arifur Rahman Bhuiyan, Assistant Professor of Environmental Science at BUP. They discussed the harmful effects of polythene and the need for alternative products.
Earlier, Rizwana Hasan inaugurated a fair showcasing eco-friendly alternatives to polythene bags and visited 24 stalls. The fair featured products from government and private entrepreneurs, including reusable bags, jute bags, paper bags, and items made from bamboo and cane.
