Bangladesh Textile Mills Threaten To Close

Excitation

From the current 5% to 15%, they will be very difficult to survive and it will be difficult to maintain their competitiveness in the international market.

Bangladesh's textile sector has more than 1300 major textile manufacturing plants with a total investment of over US $4 billion, helping the country save huge foreign exchange.

Now we can provide 80% and 40% fabrics for the export oriented knitwear and weaving industry respectively, he said.

Ready-made garments are the main export earning industry in Bangladesh, and also the largest job creation industry, next only to agriculture.

Due to the lack of electricity and natural gas, the start-up rate of textile factories is about 35%.

At present, Bangladesh has a power gap of 2000 megawatts per day, while natural gas has a shortfall of 500 million cubic feet.

Recently, India announced that it will provide 7.67% export cash incentives for knitted and woven fabrics and yarns from April 1, 2011.

The new measures are a severe blow to Bangladesh.

The Bangladesh spinning mill has 2 million 500 thousand tons of unsold yarn stock valued at $121 million.

In the first half of 201 years, Bangladesh imported 287 million kilograms of yarn and fabric, an increase of 25% over the same period last year.