Textile millers demand control of yarn price
Tuesday, 18 May 2010
FE Report
Bangladesh Specialised Textile Mills & Powerloom Industries Association termed Monday the yarn crisis artificial and made 11 demands including immediately taking control of the volatile yarn price.
At a press conference held at Dhaka Reporters Unity, they said the present yarn crisis is "artificial", which is created to destroy the local weaving industry.
In the international market yarn price rose 20 percent, though in the local market it saw a 50-80 percent jump.
Despite the sharp rise of yarn price, the prices of fabrics have not increased at the same rate. So, the loom owners are counting the cost and some are even on the brink of closing production.
They demanded formation of a price fixing committee comprising yarn producers, businessmen, government representatives and users and the committee would ensure a fixed price of yarn.
They also urged the government to increase the cash subsidy on home textile production to 15 percent from the existing 5 percent.
They emphasised on issuing an order to open up Benapole land port permanently to yarn import to thwart efforts to monopolise the business.
President of the association Sharif M Afzal Hossain, vice-president Abdur Sattar, ex- president Md.Liakot Ali, member secretary Sheikh Abdul Hakim, and vice-chairman of Bangladesh Handloom, Shineloom & Powerloom Owners Association Md. Haider Ali attended the press conference.
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Bangladesh Specialised Textile Mills & Powerloom Industries Association termed Monday the yarn crisis artificial and made 11 demands including immediately taking control of the volatile yarn price.
At a press conference held at Dhaka Reporters Unity, they said the present yarn crisis is "artificial", which is created to destroy the local weaving industry.
In the international market yarn price rose 20 percent, though in the local market it saw a 50-80 percent jump.
Despite the sharp rise of yarn price, the prices of fabrics have not increased at the same rate. So, the loom owners are counting the cost and some are even on the brink of closing production.
They demanded formation of a price fixing committee comprising yarn producers, businessmen, government representatives and users and the committee would ensure a fixed price of yarn.
They also urged the government to increase the cash subsidy on home textile production to 15 percent from the existing 5 percent.
They emphasised on issuing an order to open up Benapole land port permanently to yarn import to thwart efforts to monopolise the business.
President of the association Sharif M Afzal Hossain, vice-president Abdur Sattar, ex- president Md.Liakot Ali, member secretary Sheikh Abdul Hakim, and vice-chairman of Bangladesh Handloom, Shineloom & Powerloom Owners Association Md. Haider Ali attended the press conference.
End<>Tonmoy
Seven killed in Narsingdi mishap
· HC rejects Channel 1 appeal
· DSE pours cold water on uniform software move (3525)
· DSE rebounds on banks, energy (1878)
· Third ICB NRB MF to make debut this week (1839)
· CSR contribution, a new yardstick for banks in future ratings : Atiur (1567)
· Are railways being killed to aid bus and truck operators? (1565)
· Power should be in focus of all initiatives: ICC-B (1201)
· Govt to build exclusive zones for hotels, motels in C'Bazar (1165)
· Govt to slap penalty for delay in setting up fast-track rental power plants (1056)
· Govt opens up VoIP by June-July: Raju (919)
· Falling prices help Thailand's sugar premiums (915)
· The evil that some persons do (892)
· Good results in SSC exams: education system needs restructuring (886)