Bangladesh Textile Mills Association (BTMA) has sought for soft bank loans with two percent interest rate to pay electricity and gas bills for July, 2024 to make up for losses caused because of last two weeks’ shut down of mills over the anti-quota protest.
The mills also urged to pay the same low cost loans to pay wages for a repayment period of a year.
The BTMA sent a letter to finance minister in this regard on Wednesday.
It also demanded to finance minister to take necessary measures so that commercial banks release their accepted/mature bills against back to back letter of credits (L/C) for yarn and fabric to RMG exporters.
“We are not seeking incentive……..we are seeking bank loan for a year to offset the crisis to pay the bills,” BTMA president Mohammad Ali Khokon said in the letter.
He said mills could not collect raw materials timely, local mills could not sell their produced goods due to unusual shut down of market. Besides, export-oriented mills failed to ensure timely supply which also push the cancellation of work order, according to the letter.
Many mills remained closed during the last two weeks unstable situation. As a result, export oriented mills are suffering huge losses, he said.
BTMA president also urged the ministry for its intervention so that central bank take required measures to suspend the payment of term loan installments for six months.
