President assures support as BTMA flags textile sector crisis

President Mirza Fakhrul Islam Alamgir has assured Bangladesh Textile Mills Association (BTMA) leaders of support in addressing the challenges facing the country’s textile industry, including energy shortages and policy concerns.

A 22-member BTMA delegation led by its BTMA President Showkat Aziz Russell met the President at Bangabhaban on Monday (September 21) and placed a five-point proposal for the sector. The delegation sought continuation of the National Board of Revenue’s decision to withdraw bonded facilities for imports of 10–30 count cotton yarn and allow genuine exporters to import the yarn against bank guarantees.

The association also called for restoring a 30 per cent local value-addition requirement for raw materials imported by non-bonded industries against bank guarantees, ensuring at least 40 per cent local value addition for exports, and introducing a Textile and Apparel Competitiveness Policy aligned with those of competing countries.

It further demanded uninterrupted gas supply at adequate pressure and stronger monitoring and legal action to prevent misuse of bonded facilities.

BTMA leaders said improved gas supplies had recently helped textile and spinning mills increase production and urged the government to maintain the improvement.

The President said the textile sector plays a vital role in economic growth, employment and foreign exchange earnings, and stressed the need for practical and coordinated policy support to help Bangladeshi industries compete with rival countries.

He also identified the energy crisis as a major challenge and said the government was continuing efforts to address it.

The BTMA delegation briefed the President on the industry’s current condition, prospects and challenges and sought policy support to protect the primary textile sector and sustain its competitiveness.