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The Bangladesh Textile Mills Association (BTMA) has issued a stark warning regarding the potential doubling of gas prices, stating that it could lead to widespread factory closures within the country’s textile industry. BTMA President Showkat Aziz Russell expressed grave concerns during a press conference held in Dhaka on 18th February.
Russell emphasised that an increase in gas prices would jeopardise the sustainability of Bangladesh’s textile sector, deterring new investments and making it difficult for banks to finance any upcoming projects. “If the gas price is doubled, Bangladesh’s textile sector will never become sustainable. One factory after another will be forced to shut down,” he stated.
The press conference was convened to discuss the upcoming Dhaka International Textile & Garment Machinery Exhibition (DTG), the largest textile machinery exhibition in Bangladesh, which is set to take place from 20th to 23rd February. The event will feature 1,600 stalls from 33 countries, showcasing advancements in textile technology.
BTMA Director Abdullah Al Mamun also participated in the press conference, highlighting the urgent need for dialogue on the implications of rising gas prices for the industry.