Textile mills want refinancing scheme, RMG uninterrupted gas

Textile millers yesterday urged the government to introduce a special refinancing scheme for existing loans to export-oriented primary textile industries with a maximum interest rate of 5 percent.

The millers made the demand during a meeting with Prime Minister Tarique Rahman at his secretariat office in Dhaka. Bangladesh Textile Mills Association (BTMA) President Showkat Aziz Russell led the delegation.

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They also urged the government to quickly implement the announced Tk 20,000 crore working capital support package through simplified procedures, project-based Credit Information Bureau (CIB) assessments, and temporary relaxation of CIB requirements for closed or partially operational industrial enterprises.

The manufacturers made the demand during a meeting with Prime Minister Tarique Rahman at his secretariat office

They also sought the adoption of a competitive policy framework through a coordinated tariff and tax structure, financial support measures, and export promotion policies for the primary textile and export-oriented readymade (RMG) industries in line with those of competing countries.

They also urged the Prime Minister’s Office to ensure the prompt and efficient delivery of government services to export-oriented industries.

In response, the prime minister directed 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, according to a BTMA statement.

The committee will convene its first meeting within one week to review the existing challenges facing the primary textile sector and submit its recommendations.

At the meeting, the BTMA handed over a Tk 5 crore cheque to the prime minister’s relief and welfare fund.

Meanwhile, a delegation of the board of directors of the Bangladesh Garment Manufacturers and Exporters Association (BGMEA), led by its president, Mahmud Hasan Khan, met with the prime minister yesterday.

The BGMEA leaders demanded an uninterrupted supply of gas and electricity to keep factories operational and ensure the timely shipment of export orders.

The delegation highlighted the adverse impact of the recent energy crisis on production and the increased operating costs incurred by factories due to their reliance on alternative power sources.

BGMEA also strongly requested the establishment of a dedicated mechanism under the Prime Minister’s Office to facilitate the prompt resolution of issues relating to customs, banking, gas, electricity, and other government services for export-oriented industries, according to a BGMEA statement.

The association also proposed that the prime minister introduce a permanent policy under which annual customs bond audits would be conducted by leading professional audit firms to eliminate the complexities associated with frequent audits by the National Board of Revenue and bond authorities.

In view of the inadequate cargo handling capacity at Hazrat Shahjalal International Airport, which has led to increased lead times, BGMEA requested urgent measures to construct a temporary cargo shed.

The leading trade body also requested the allocation of suitable government land in Gazipur, the country’s largest apparel manufacturing hub, to establish a modern specialised hospital for garment workers, ensuring affordable, quality healthcare services for millions of workers.