Close on heels of the garment makers calling upon the Government to ease conditions for importing raw materials including fabrics and yarn, textile mill owners in Bangladesh have expressed concerns that if the Government allows yarn imports through all land ports, and permits partial imports of yarn under the same letters of credit (LCs), it would have adverse ramifications for the local textile mills.
Media reports maintained this adding the mill owners’ association, the Bangladesh Textile Mills Association or BTMA, has launched an effort to reach out to the National Board of Revenue (NBR) and concerned ministries in what is seen an effort to prevent such a scenario even as the mill owners held a meeting recently to take this decision.
Speaking to the media, a source who has been a part of the meeting, reportedly, underlined the mill owners would reach out to the Government to underline the adverse impact such a development would have on the local textile mills, but prior to which, they also, reportedly, plan to meet with the garment manufacturers’ bodies in the country.
