A special Press Conference on the crisis situation of the domestic textile industry was held at the Crystal Hall of Gulshan Club, Dhaka, on 24 February 2025 Monday, at the initiative of Bangladesh Textile Mills Association (BTMA). The press conference was presided over by BTMA President Shawkat Aziz Russell. BTMA Vice Presidents Md. Shamim Islam, Md. Abul Kalam and Md. Saleud Zaman Khan were present at the press conference.
Speaking at the press conference, BTMA President Shaukat Aziz Russell said that the country’s textile sector has been facing various problems for a long time, including the increase in gas and electricity prices, the dollar crisis, the increase in bank interest rates up to 18%, the unnatural reduction in cash incentives against exports on the pretext of fulfilling the conditions of LDC graduation, and the crisis of working capital due to the depreciation of the rupee, etc. are particularly noteworthy. In addition to the above-mentioned problems of the textile industry, the entry of yarn and fabrics from India at dumping prices using various land ports/customs houses into the local market has added a new dimension to the challenges of the domestic textile industry. The textile sector has not been able to operate its normal production program for the past 3 years or more due to the fuel crisis. Due to the severe gas crisis for the past few months, the mills have not been able to use more than 40-50% of their production capacity.
The way the incentives and policy support of the textile industry in Bangladesh are being reduced drastically in the name of LDC graduation and the way the industry is being hindered will inevitably bring this industry to the brink of destruction. Due to the wrong policies of the previous government, this industry has been brought to the brink of destruction today and this country has actually been turned into a foreign market. If urgent steps are not taken to stop the import of yarn using land ports, the domestic textile industry will face irreparable losses. Import dependence on foreign yarn is increasing, import costs are increasing and the number of unemployment is increasing.
BTMA Vice President Salwad Zaman Khan said that India is providing a subsidy of Rs 11 per kilogram of yarn, which is state-sponsored dumping. He said that Bangladeshi garment factories are not benefiting from the low price of yarn, and ultimately the benefit is going to foreign buyers.
BTMA Vice President Md. Shamim Islam demanded that the gas price be reduced to below Tk 20 per unit, saying that due to the ongoing gas crisis, the mills are running at only 50%-60% capacity.
BTMA Vice President Md. Abul Kalam demanded that interest rates be brought down to single digits to encourage investment and called for fixing interest rates at single digits for the next 30 years.
BTMA Director Engineer Rajib Haider said that despite the existence of underground gas reserves, for whose benefit is LNG being imported? He also mentioned that the textile and garment industry cannot survive by depending on LNG imports. He warned that factories may close down, saying that it will become impossible to run factories with gas at 75 taka.
BTMA Director Md. Monir Hossain, Syed Enayet Kabir, Muha. Khorshed Alam, Md. Masud Rana, Engineer Rajib Haider, Engineer Istehaq Ahmed Saikat, BM Shoaib, Md. Shahid Alam, Azizur R Chowdhury, Engineer Syed Isteak Ahmed, Mohammad Habibur Rahman, Abdul Wadud Chowdhury and Md. Azahar Khan and Hossain Hossain Mehmud were present at the press conference.
Journalists from various print and electronic media were present at the press conference. BTMA President Shawkat Aziz Russell answered various questions raised by journalists from various print and electronic media present at the press conference.
