BJSA concerned at fall in jute goods' demand, prices abroad
FE Report | Thursday, 5 March 2009
Bangladesh Jute Spinners Association (BJSA) voiced Wednesday their deep concern over the downward trends of both demand and prices of local jute goods in the export markets against the backdrop of the global financial meltdown.
The apex body of the local jute spinning mills voiced the concern at the 30th annual general meeting (AGM) of the BJSA held at its city office with Acting BJSA chairman Mahmudul Haq in the chair.
The AGM was told that the country's jute spinners had already cut their production by around 40 per cent following the fall in demand for jute yarns in the global market.
About impact of the global recession, the BJSA members informed the meeting that the earnings from export of jute yarns declined by 20.26 per cent while the volume of export also fell by 23.51 per cent until February of the current fiscal compared to the matching period of last fiscal.
The country earned nearly Tk 8.79 billion by exporting 177,841 tonnes of jute yarns during July-February of the current fiscal while Tk 11.02 billion was earned from exporting 232,496 tonnes during the corresponding period of last fiscal, the meeting was told.
The meeting also informed the BJSA members that a committee comprising representatives of all the private stakeholders had already submitted a memorandum to the jute ministry, seeking various supports including enhancement of export subsidy and reduction of interest rate on working capital, to help the local spinners mitigate impact of the global recession.
The meeting also demanded that the Bangladesh Energy Regulatory Commission (BERC) exempt the licence fees imposed on captive/standby generators.
Meanwhile, the BJSA members at the AGM expressed their deep shock at the recent carnage at the BDR headquarters and demanded exemplary punishment to the persons involved.
They also prayed for salvation of the departed souls and expressed sympathy to the bereaved families of the carnage victims.
The apex body of the local jute spinning mills voiced the concern at the 30th annual general meeting (AGM) of the BJSA held at its city office with Acting BJSA chairman Mahmudul Haq in the chair.
The AGM was told that the country's jute spinners had already cut their production by around 40 per cent following the fall in demand for jute yarns in the global market.
About impact of the global recession, the BJSA members informed the meeting that the earnings from export of jute yarns declined by 20.26 per cent while the volume of export also fell by 23.51 per cent until February of the current fiscal compared to the matching period of last fiscal.
The country earned nearly Tk 8.79 billion by exporting 177,841 tonnes of jute yarns during July-February of the current fiscal while Tk 11.02 billion was earned from exporting 232,496 tonnes during the corresponding period of last fiscal, the meeting was told.
The meeting also informed the BJSA members that a committee comprising representatives of all the private stakeholders had already submitted a memorandum to the jute ministry, seeking various supports including enhancement of export subsidy and reduction of interest rate on working capital, to help the local spinners mitigate impact of the global recession.
The meeting also demanded that the Bangladesh Energy Regulatory Commission (BERC) exempt the licence fees imposed on captive/standby generators.
Meanwhile, the BJSA members at the AGM expressed their deep shock at the recent carnage at the BDR headquarters and demanded exemplary punishment to the persons involved.
They also prayed for salvation of the departed souls and expressed sympathy to the bereaved families of the carnage victims.