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Bangladesh - May 31, 2023

Pry textile miller surge RMG makers to buy local yarn

Industry Desk: Primary textile millers yesterday urged the woven and knit garment makers to buy yarn from the local markets by opening back to back letters of credit (LCs) to reduce stockpiling of unsold yarn and to preserve the US dollar in this crisis period.
The textile millers also demanded the government increase allocation from the Export Development Fund (EDF) to $30million from $20million to overcome the crisis.
Mohammad Ali Khokon, president of Bangladesh Textile Mills Association (BTMA) made these demands at a press conference at the BTMA office in Dhaka yesterday.

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