Bangladesh has directed all buying houses in the garment and textile sector to register themselves with the department of textiles to run their businesses. In a May 28 gazette notification, the Textiles and Jute Ministry said the registration is mandatory within 60 days. If any buying house seeks extension with valid reasons, it can be allowed 60 more days.
If registration is not done on time, the government will take legal action. Recently, the Ministry issued a gazette notification detailing the registration procedure.
Many buying houses are operating in the country unregulated and the government does not know how many companies are working in the sector, Bangladesh Garment Buying House Association President Kazi Iftequer Hossain told.
According to the association, there are more than 1,200 buying houses operating in the country out of which around 400 are its members. Since April 1 this year, 10 buying houses have got themselves registered.