BTMA temporarily suspends plan to shut textile mills after government assurance
Considering the government’s assurances, the progress of discussions, and the broader national context, including the upcoming national election and referendum, BTMA decided to temporarily suspend its previously announced programme
The Bangladesh Textile Mills Association (BTMA) has temporarily suspended its decision to shut down spinning mills from 1 February after receiving assurances from the government to address the sector's ongoing challenges.
In a statement issued today (29 January), BTMA said the decision followed a high-level consultative meeting held on 27 January at the Ministry of Commerce, chaired by Commerce Adviser Sk Bashir Uddin.
The meeting reviewed the problems faced by the readymade garment and textile sectors, with particular emphasis on the spinning industry, it added.
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During the meeting, the commerce adviser acknowledged the concerns raised by industry stakeholders and highlighted the strategic importance of the spinning sector to Bangladesh's export competitiveness and industrial value chain.
On behalf of the government, he reaffirmed a strong commitment to resolving the issues through lawful, equitable and time-bound policy measures within existing fiscal and regulatory frameworks, it said.
According to the statement, the commerce adviser further informed that an inter-ministerial coordination meeting involving all relevant stakeholders will be held on 3 February at the Finance Division of the Ministry of Finance to find an appropriate and timely policy solution to the current crisis facing the spinning sector.
Considering the government's assurances, the progress of discussions, and the broader national context, including the upcoming national election and referendum, BTMA decided to temporarily suspend its previously announced programme to close all textile mills from 1 February, it added.
The statement further said BTMA expressed confidence that the government would address the sector's issues in a timely, transparent and lawful manner, contributing to export competitiveness, employment protection and macroeconomic stability.
The association said it would review future developments and announce its next course of action accordingly.
The meeting was attended by senior government officials, including the chairman of the National Board of Revenue (NBR), the commerce secretary, and representatives from the Bangladesh Trade and Tariff Commission, the Finance Division and the NBR.
Leaders of BTMA, the Bangladesh Garment Manufacturers and Exporters Association (BGMEA), and the Bangladesh Knitwear Manufacturers and Exporters Association (BKMEA) were also present.
Industry representatives separately placed their proposals, outlining the legal, economic and operational basis of their demands, the statement said.
