MARKET FAILURE IN BANGLADESH: NEGATIVE IMPACT OF DYEING INDUSTRY ON ENVIRONMENT
Prepared for: Sheikh Morshed Jahan Course Instructor: Bangladesh Studies (K202)
Prepared by: Rakshanda Zihan Roll No # 72, Section- B BBA, Batch 19th
Institute of Business Administration, University of Dhaka, Dhaka March 31, 2013
Market Failure: Market Failure is an economic situation that occurs in free market economy. When in any given market, the quantity of a product demanded by consumers does not equate to the quantity supplied by suppliers, market failure occurs. This is a direct result of a lack of certain economically ideal factors, which prevents equilibrium. Due to market failure, the social costs of producing the good or service are not minimized, and this results in a waste of some resources. It can also occur when personal needs are met at the cost of social well-being. One of the reasons of market failure is Negative externalities: for e.g. the effects of environmental pollution causing the social cost of production to exceed the private cost. Market failure of Dyeing Industry in Bangladesh: There is free market economy in the dyeing Industry of Bangladesh. The textile dyeing and washing industry play an important role in the economic growth as well as the environmental sectors of Bangladesh. The textile dyeing industries has been condemned as being one of the world’s most offenders in terms of pollution. There are many dyeing industries in Bangladesh which are mainly located at Gazipur and Narayanganj industrial area. Almost all Readymade Garment (RMG) factories require textile and garment washing-dyeing-finishing (WDF) services. There are about 1,700 washing dyeing units in Bangladesh. The liquid and solid pollutants that are being generated by the WDF units are negatively affecting the lives of people living around these facilities. The known negative impacts include long term damage to arable lands; aquatic ecosystem of the low lying wet lands and inland...
References: 1. M. M. Islam, K. Mahmud, O. Faruk & M.S. Billah. M. (2011). Textile Dyeing Industry in Bangladesh for Sustainable Development. International Journal of Environment Science and Development, Vol. 2 (No. 6), pp. 428-436. 2. MD. R. I. Habib. M. (2009). Backward Linkage in Readymade Garment Industry of Bangladesh: Appraisal and policy Implication. Journal of Textile Apparel, Technology and Management, Vol. 6, Issue. 2, fall, pp. 6-7. 3. M. S. Sultana, M. S. Islam, R. Saha & M.A. Al-Mansur. M. (2009). Impact of the Effluents of Textile Dyeing Industries on the Surface Water Quality inside D.N.D Embankment, Narayanganj. Bangladesh Journal of Scientific and Industrial Research, Vol. 44 (No. 1), pp. 60-80 4. Bangladesh Center for Advanced Studies: retrieved on March 30, 2013, http://www.bcas.net/projectdetails.php?project_id=70&title=Environment%20Impact%20of %20Textile%20Dyeing%20and%20Printing%20Industries%20in%20Bangladesh
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