Bangladesh home textile makers seek subsidy on additional cost incurred on account of fuel price hike

Claiming the recent fuel price hike as carried out by the Government will increase their production cost by Taka 75 crore a month, textile manufacturers in Bangladesh have demanded the Government pay them 50 per cent of the additional cost as subsidy.

This was underlined in a press communiqué issued by the Bangladesh Terry Towel and Linen Manufacturers and Exporters Association and signed by its Chairman M Sahadat Hossain, which maintained the sector’s monthly production volume is around US $ 175 million of which 90 per cent is its production cost while adding the fuel price crisis will add around US $ 7 to 8 million to their production costs.

Such a scenario might impact the industry badly if the Government delays taking steps to resolve the issue, further added the press release.