Bangladeshi textile millers worried of imported yarn
The textile millers are worried because of the new proposal that has been brought forward by apparel manufacturers for importing cotton, fabrics, yarn, and other raw materials through land ports.
textile millers are worried because of the new proposal that has been brought
forward by apparel manufacturers for importing cotton, fabrics, yarn, and other
raw materials through land ports
According to the
Industry Insiders, the domestic textile mills of the country will be affected
adversely if they allowed the import of yarn through land ports and also if
they give the permission for partial shipment of the apparel industry’s raw
material under the same letters of credit (LCs).
The leaders of
the Bangladesh Textile Mills Association (BTMA)
conducted a meeting with the stakeholders and talked about this new dilemma.
According to Fazlul Haque, Vice President, BTMA, the import of raw materials
for apparel is going on through Benapole port and there is no need to ask for
import permission through new ports. He further said that if this decision is
taken, the domestic industry will be impacted and a hefty amount of yarn will
enter the country under false declaration.
He further said
that the matter has been discussed within the team and the government is
well-informed about the consequences that the local industry will have to face
in case the imports of yarn are allowed through the land ports. It is also
believed that the established local textile mills that received investment for
expansion and sustainability will incur losses.
Source â€“ Dhaka Tribune