• Friday, Sep 30, 2022
  • Last Update : 10:24 am

Textile millers fear losing global competitiveness

  • Published at 06:58 pm February 19th, 2017
Textile millers fear losing global competitiveness
Bangladesh Textile Mills Association (BTMA) President Tapan Chowdhury made the remark while addressing a press conference on the upcoming Dhaka International Textile and Garment Machinery Exhibition (DTG)-2017 in the city on Sunday. A four-day mega expo on textile machinery is set to kick off at Bangabandhu International Conference Center (BICC) in the city on Thursday. Besides, the sector people claimed that scarcity of lands and insufficient gas and electricity connection are the key barriers to the private sector investment growth. The government is going to establish a LNG terminal in Kutubdia Island to supply imported gas to the industry people as the country fears of finishing its natural gas stock in near future. BTMA along with Yorkers Trade and Marketing Services, Chan Chao International will organise the show where a total of 1,000 machinery manufacturers from 33 countries will take part. “It would be very difficult to remain competitive in the global markets after using LNG in the manufacturing units as it would increase the production cost,” said Tapan in response to a question. He continued as saying: “We are yet to get any clarification about the possible LNG pricing and other related process although we have heard that per unit gas may cost Tk14, which would hit hard the spinning industry.” Despite political stability and comparatively low bank interest rates, the private sector investment growth is still not up to the expected level, said Tapan, also a former advisor to a caretaker government. He explained that scarcity of land and insufficient gas and electricity connections are now being considered as the barriers to the private sector investment in the country. As the sector people are not getting the connection for the expansion of their existing business, it would hurt the apparel industry as the textile industry is the source of raw materials for the sector, he added. Currently, country’s textile industry has an investment of US$6 billion while RMG and textile sector contribute about 86% of total export and textile industry’s contribution to GDP is 13%.
Facebook 50
blogger sharing button blogger
buffer sharing button buffer
diaspora sharing button diaspora
digg sharing button digg
douban sharing button douban
email sharing button email
evernote sharing button evernote
flipboard sharing button flipboard
pocket sharing button getpocket
github sharing button github
gmail sharing button gmail
googlebookmarks sharing button googlebookmarks
hackernews sharing button hackernews
instapaper sharing button instapaper
line sharing button line
linkedin sharing button linkedin
livejournal sharing button livejournal
mailru sharing button mailru
medium sharing button medium
meneame sharing button meneame
messenger sharing button messenger
odnoklassniki sharing button odnoklassniki
pinterest sharing button pinterest
print sharing button print
qzone sharing button qzone
reddit sharing button reddit
refind sharing button refind
renren sharing button renren
skype sharing button skype
snapchat sharing button snapchat
surfingbird sharing button surfingbird
telegram sharing button telegram
tumblr sharing button tumblr
twitter sharing button twitter
vk sharing button vk
wechat sharing button wechat
weibo sharing button weibo
whatsapp sharing button whatsapp
wordpress sharing button wordpress
xing sharing button xing
yahoomail sharing button yahoomail