'Will strengthen textile sector': BTMA welcomes govt decision to halt yarn imports through land ports
The Bangladesh Textile Mills Association (BTMA) has welcomed the government's decision to halt the import of yarn through land ports.
In a statement today (15 April), the trade body said the move "will strengthen the country's textile sector, especially the backward linkage industries, while valuable foreign exchange will be saved and value addition will increase".
"The BTMA believes that as a result of this decision, if yarn is imported using sea ports, its complete control will be in the hands of the National Board of Revenue.
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"In addition, money laundering through hundi will be stopped and the government's revenue will increase significantly," reads the statement.
In an order dated 13 April, which was made public today, the National Board of Revenue (NBR) issued a halt to import of yarn through land ports.
Earlier, on 27 March, the commerce ministry, after reviewing requests from textile mill owners, had instructed relevant authorities to take action on the matter.
While the decision has been welcomed by textile mill owners, it has drawn criticism from readymade garment (RMG) exporters.
