The Finance Minister has been encouraged by owners in the textile industry to postpone the payment of their term loans until January 2025 to ensure the “survival of the country’s apparel export” and to release their accepted/mature bills from banks so that they may pay their staff.
The leaders of the industry wrote to the minister on 31st July, through the Bangladesh Textile Mills Association (BTMA), stating that “necessary steps should be taken to ensure that commercial banks, which provide LCs to textile manufacturing companies, pay the accepted/matured bills for yarn and fabric supplied by BTMA on time.”
“Once the bill amounts are received, member mills will be somewhat relieved from the shortage of necessary working capital for their operations.”
