The hand and the power loom sectors of Bangladesh are struggling to survive of late due to high prices of yarns even if around 50 per cent of them have gone out of production unable to bear the huge losses incurred.
The President of the Bangladesh Specialised Textile Mills and Powerloom Industries Association Faizuddin Ahmed, reportedly, maintained this speaking to the media while adding for the last five months or so, the weaving industry has been struggling to stay afloat thanks to continued increase in yarn prices.
“…we are unable to obtain yarns at reasonable prices,” reportedly, claimed Faizuddin while adding that even if the Bangladesh Textile Mills Association (BTMA) had set the maximum prices of yarns, the weavers were unable to buy the item at the mill rate as a section of influential traders are controlling the market while adding due to the high prices of yarns, the cost of production is going up.
…but we are not getting additional prices as fabrics imported under the bonded-warehouse facility are selling at low prices locally, reportedly, further claimed the president of the Bangladesh Specialised Textile Mills and Powerloom Industries Association.
