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Prime Minister Tareque Rahman has formed a committee comprising the Finance Advisor and the Commerce Minister to resolve the issues of the textile sector.
Bangladesh Textile Mills Association (BTMA) President Shawkat Aziz Russell informed journalists about this after a courtesy meeting with Prime Minister Tareque Rahman at the Secretariat on Wednesday (July 22) morning.
At this time, he complained that the problems of the textile sector are very old, which no previous government has addressed.
The BTMA President stated that even after the government takes appropriate steps, it might take approximately one and a half years to resolve the issues. Shawkat Aziz also mentioned that entrepreneurs would grant the government this timeframe.
Commenting that the textile sector would rebound if the government is sincere, the BTMA President said that discussions with the Prime Minister covered the financial problems of the sector, in addition to gas and electricity issues.
Shawkat Aziz stated that the government is already providing a 5% incentive, and the constituted committee will convene again next week. He added that if the government’s closed factories are reopened and initiatives to restart other closed and semi-closed factories succeed, 1.5 million people would gain employment quickly and naturally. However, the BTMA President also emphasized that for these factories to operate successfully, attention must be paid to the issue of dumping in the competitive market.