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President Mirza Fakhrul Islam Alamgir has assured the Bangladesh Textile Mills Association (BTMA) of government support to address the problems facing the country’s textile sector, stressing its importance to the economy, employment and foreign exchange earnings.
He made the assurance on Monday when a 22-member BTMA delegation, led by its president Shawkat Aziz Russell, met him at Bangabhaban.
President’s Press Secretary Md Sarwar Alam briefed reporters after the meeting.
The President said the textile sector needs practical and coordinated policy support to remain competitive with industries in other countries.
He identified the ongoing energy crisis as the country’s biggest challenge, saying insufficient initiatives in the past to explore domestic gas and energy resources had contributed to the problem.
Referring to the ongoing conflict in the Middle East, he said developing economies such as Bangladesh were facing greater pressure from the resulting disruptions.
The President said the government was continuing efforts to address the energy crisis and urged business leaders to play an active role in helping rebuild the economy.
BTMA President Shawkat Aziz Russell highlighted the textile sector’s contribution and briefed the President on its current challenges.
BTMA leaders also urged the government to retain the National Board of Revenue’s decision to withdraw bond facilities for imports of 10-30 count cotton yarn and allow such imports against bank guarantees to protect local textile mills.
Senior officials and the President’s secretaries concerned were present at the meeting.
