Textile manufacturers have called on the government to implement a special refinancing scheme for existing loans in export-oriented primary textile industries with a maximum interest rate of 5 percent. The demand was raised during a meeting with Prime Minister Tarique Rahman at his office in Dhaka, led by Showkat Aziz Russell, the President of Bangladesh Textile Mills Association (BTMA).
The industry representatives also urged the government to expedite the announced Tk 20,000 crore working capital support package by streamlining procedures, conducting project-based Credit Information Bureau (CIB) assessments, and temporarily relaxing CIB requirements for inactive or partially operational industrial units.
Furthermore, they advocated for a competitive policy framework encompassing coordinated tariff and tax structures, financial assistance measures, and export promotion policies for primary textile and export-oriented readymade garment (RMG) industries to align with competitor nations.
The delegation also emphasized the need for efficient delivery of government services to export-oriented industries from the Prime Minister’s Office. In response, the Prime Minister instructed the formation of a high-level committee comprising the commerce minister, the prime minister’s adviser on finance and planning, and the Bangladesh Bank governor to address challenges faced by the primary textile sector. The committee is set to hold its inaugural meeting within a week to formulate recommendations.
During the meeting, BTMA presented a Tk 5 crore cheque to the Prime Minister’s relief and welfare fund. Concurrently, a delegation from Bangladesh Garment Manufacturers and Exporters Association (BGMEA), led by President Mahmud Hasan Khan, met with the Prime Minister to request uninterrupted gas and electricity supply for factory operations and timely shipment of export orders.
BGMEA highlighted the negative effects of the recent energy crisis on production and the increased operating costs due to reliance on alternative power sources. They urged the establishment of a dedicated mechanism under the Prime Minister’s Office to address customs, banking, gas, electricity, and other government service-related issues for export-oriented industries.
The association suggested a permanent policy for annual customs bond audits by professional firms to simplify the auditing process. Additionally, BGMEA sought urgent measures to address cargo handling capacity constraints at Hazrat Shahjalal International Airport and proposed the construction of a temporary cargo shed.
Moreover, they requested suitable government land allocation in Gazipur to establish a modern specialized hospital to provide affordable and quality healthcare services to garment workers in the largest apparel manufacturing hub of the country.