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BTMA gala night stresses readjustment of gas price

Spinners urge revision of the gas price at the recently held BTMA Annual Dinner & Gala Night 2023. In the event, Bangladesh Textile Mills Association (BTMA) leaders stress that the government should reconsider the gas price hike and wants uninterrupted gas supply to keep up production.

BTMA gala night-readjustment-gas price
Figure: Mohammad Ali Khokon, President, BTMA urged readjustment of gas price and uninterrupted gas supply.

Mohammad Ali Khokon, President, BTMA said “Bangladesh spinning industry entrepreneurs did not want the hike to this extent. And we simply cannot survive with this steep hike in price. Our backward linkage industry – consisting of spinning, weaving, and dyeing-printing-finishing industries – are run on the basis of captive power generation, where gas is the main fuel.”

“In addition, Buyers and the forward industry are not ready to pay this much. In addition, the backward linkage industry wants an uninterrupted gas supply to keep up production.”

Khokon added that when the industries are barely surviving their business amid various challenging amid the current worldwide business slowdown – and the gas price rise will further worsen the industry’s situation and it will trigger a domino crisis situation in the whole apparel value chain. As the country’s apparel-forward industry is 100% reliant on primary textile industries.

BTMA President requested the govt. to offer cash incentives to the millers. And ease various obstacles in TAX, customs, and bond facilities.

“Though we are passing a critical time but it is fact that problems exist and problems will prevail but we should proceed with dignity. I am so proud that Primary Textile Sector is helping the entire economic cycle, export earnings and retention. Above all, the export-oriented sectors Primary Textile Sector is playing an advanced role. Also, I am hopeful that we can make the dream of Bangabandhu’s building of Sonar Bangladesh into reality by overcoming all the difficulties,” added Khokon.

BTMA’s Gala Dinner program develops scope to meet with textile community people and this gathering helps to strengthen the bonding among the members.

At the event, Advisor to the Prime Minister of Bangladesh, Salman F Rahman MP; Minister of Textile and Jute Golam Dastagir Gazi, Faruque Hassan, President, BGMEA, BTMA members, and spinning sector people were present.

If anyone has any feedback or input regarding the published news, please contact: info@textiletoday.com.bd

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