The Bangladesh Textile Mills Association (BTMA) on Wednesday urged Bangladesh Bank to provide policy support on a range of issues, including access to stimulus funds for closed factories, lower borrowing costs and an exit policy for financially distressed textile mills.
The demands were placed at a meeting between a BTMA delegation, led by its President Showkat Aziz Russell, and Bangladesh Bank Governor Ahsan H. Mansur at the central bank headquarters in Dhaka, according to a release.
According to a BTMA statement, the association submitted a formal letter outlining several policy proposals aimed at addressing challenges facing the country’s textile sector.
Among its key demands, the association sought access to Bangladesh Bank’s stimulus scheme for fully and partially closed industrial units, settlement of outstanding payments against back-to-back letters of credit, and wider access to the Green Transformation Fund (GTF).
BTMA also called for rationalising interest rates for textile manufacturers, introducing incentives for industries operating in special economic zones and implementing an effective exit policy for distressed industrial enterprises.
The association said the governor and senior Bangladesh Bank officials listened to the industry’s concerns and assured the delegation that the proposals would be examined with due importance.
Deputy Governor Sarwar Hossain, Director Harun Ar Rashid and Liakat Ali of Bangladesh Bank also attended the meeting.
The BTMA delegation included former president A. Matin Chowdhury, Vice-President Shafiqul Islam Sarkar, former vice-president Saleudh Zaman Khan, Director Chowdhury Mohammad Hanif Shoeb, former director Mosharaf Hossain and former director Engr. Razeeb Haider.