Ban on yarn import thru' Benapole land port goes

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Masud Rahman

Monira Munni
The government has withdrawn the ban on yarn import through Benapole land port in a bid to help bring down the price of the textile raw material.
"Yarn import has been opened for all through the land port," Textile and Jute Minister, Abdul Latif Siddique told the FE Friday.
Official sources, however, said the government has removed the restriction on yarn import in response to the demand of local handloom owners and weavers following the price surge of yarn in the local market.
The government has opened Benapole land port for yarn import saying the real users of yarn can import the textile raw material through the port. However, the local spinners have opposed the move.
The decision to withdraw the import restriction came following the recommendation of the Textile and Jute Ministry, sources said.
Weavers for some weeks have been demanding permission to import yarn through Benapole port following the dramatic rise in yarn prices.
One pound of 40 count yarn was available at Tk 65 in October last year, but it has now been increased to Tk 115, weavers claimed.
According Bangladesh Handloom and Power-loom Owners' Association, about 0.6 million looms forced closure and the remaining 1.4 million looms failed to use their production capacity due to the high price of yarn.
The local handloom industry meets 80 per cent of the total demand for fabrics, the industry said.
According to industry insiders, the country's annual yarn demand is 1.0 million tonnes, of which knit sector uses 0.7 million tonnes and the weaving industry the rest.
On the other hand, Bangladesh Textile Mills Association president Abdul Hai Sarker said the decision will be detrimental to the growth of local textile industry.
"Beside the withdrawal of the restriction will encourage yarn smuggling," he said.
UNB adds: National Board of Revenue (NBR) on Friday issued a notification (SRO- 262/2009) withdrawing ban on yarn import through Benapole land port.
As per the notification, four counts of yarn - 82/1, 100/1, 100/2 and 120/1 - can be imported through the Benapole port.