Fabricated numbers to show higher export part of conspiracy: BTMA president | The Business Standard
Skip to main content
  • Latest
  • Economy
    • Banking
    • Stocks
    • Industry
    • Analysis
    • Bazaar
    • RMG
    • Corporates
    • Aviation
  • Videos
    • TBS Today
    • TBS Stories
    • TBS World
    • News of the day
    • TBS Programs
    • Podcast
    • Editor's Pick
  • World+Biz
  • Features
    • Panorama
    • The Big Picture
    • Pursuit
    • Habitat
    • Thoughts
    • Splash
    • Mode
    • Tech
    • Explorer
    • Brands
    • In Focus
    • Book Review
    • Earth
    • Food
    • Luxury
    • Wheels
  • More
    • Sports
    • TBS Graduates
    • Bangladesh
    • Supplement
    • Infograph
    • Archive
    • Gallery
    • Long Read
    • Interviews
    • Offbeat
    • Magazine
    • Climate Change
    • Health
    • Cartoons
  • বাংলা
The Business Standard

Monday
June 09, 2025

Sign In
Subscribe
  • Latest
  • Economy
    • Banking
    • Stocks
    • Industry
    • Analysis
    • Bazaar
    • RMG
    • Corporates
    • Aviation
  • Videos
    • TBS Today
    • TBS Stories
    • TBS World
    • News of the day
    • TBS Programs
    • Podcast
    • Editor's Pick
  • World+Biz
  • Features
    • Panorama
    • The Big Picture
    • Pursuit
    • Habitat
    • Thoughts
    • Splash
    • Mode
    • Tech
    • Explorer
    • Brands
    • In Focus
    • Book Review
    • Earth
    • Food
    • Luxury
    • Wheels
  • More
    • Sports
    • TBS Graduates
    • Bangladesh
    • Supplement
    • Infograph
    • Archive
    • Gallery
    • Long Read
    • Interviews
    • Offbeat
    • Magazine
    • Climate Change
    • Health
    • Cartoons
  • বাংলা
MONDAY, JUNE 09, 2025
Fabricated numbers to show higher export part of conspiracy: BTMA president

Economy

TBS Report
06 July, 2024, 02:50 pm
Last modified: 06 July, 2024, 06:30 pm

Related News

  • China's May exports slow, deflation deepens as tariffs bite
  • After a slow April, exports make strong rebound in May with $4.74b in earnings — highest in 11 months
  • Export container volume doubles; 5,000 trucks stuck on highways ahead of Eid
  • Govt approves second phase of 5,800 tonnes aromatic rice exports
  • Light Engineering Assoc makes 7 proposals to boost export, expo begins 29 May

Fabricated numbers to show higher export part of conspiracy: BTMA president

"Reducing cash incentives would severely jeopardise the industry and halt its progress, potentially leading to its demise like the jute industry in the future," said the BTMA president

TBS Report
06 July, 2024, 02:50 pm
Last modified: 06 July, 2024, 06:30 pm
Mohammad Ali Khokon, the president of the Bangladesh Textile Mills Association (BTMA) speaks during a press conference at his office on the capital's Panthapath on Saturday, 6 July 2024. Photo: TBS
Mohammad Ali Khokon, the president of the Bangladesh Textile Mills Association (BTMA) speaks during a press conference at his office on the capital's Panthapath on Saturday, 6 July 2024. Photo: TBS

Showing inflated export figures through false information was part of a conspiracy that has harmed entrepreneurs in the country's textile sector, claimed Mohammad Ali Khokon, the president of the Bangladesh Textile Mills Association (BTMA) today (6 July).

"In a meeting of the Ministry of Commerce last year, when we said our exports do not reflect the export data shown by the Export Promotion Bureau (EPB), the central bank governor and others scolded us, saying, why were we saying that exports are less. Then we, including the then president of BGMEA, became silent," he said during a press conference at his office in the capital's Panthapath.

"We have been deprived of many benefits with the false information of export growth, which was a kind of conspiracy," Khokon added.

The Business Standard Google News Keep updated, follow The Business Standard's Google news channel

Shocking export numbers error: Data sanctity matters

Today's press conference was organised to highlight how the reduction of cash incentives could harm the textile sector. 

"Reducing cash incentives would severely jeopardise the industry and halt its progress, potentially leading to its demise like the jute industry in the future," said the BTMA president. 

He also voiced concerns that, for these reasons, the industry might eventually become dependent on foreign markets.

Khokon further said, "The price of gas has increased, and the gas crisis is more severe. Production cost per kg of yarn is $1.25. If production is halved due to gas shortage, the cost becomes $2.5. Also, the period available under the Export Development Fund (EDF) was 365 days, but it has been reduced.

"Besides, due to currency devaluation, working capital has reduced by 40%. The rate of interest has also increased. The 9% interest rate has now increased to 15.5% in the sector, an increase of about 48%." 

Stating that the local industry has lagged behind in the competition due to these reasons, he said the import of yarn from neighbouring country India has increased by about 13% in the last one year. 

"The facilities that are provided in India are not provided here. Because of this, some factories have already closed down permanently. Several more factories will be closed by next December. As a result, import dependence will increase and at some point this local market will be taken over by foreigners," he added.

Top News

Fabricated / export / Bangladesh Textile Mills Association (BTMA)

Comments

While most comments will be posted if they are on-topic and not abusive, moderation decisions are subjective. Published comments are readers’ own views and The Business Standard does not endorse any of the readers’ comments.

Top Stories

  • Chief Adviser Muhammad Yunus leaves for a four-day visit to the United Kingdom from the Dhaka airport on 9 June 2025. Photo: CA Press Wing
    CA Yunus leaves for UK; discussion expected on renewable energy investment, laundered money
  • California Governor Gavin Newsom. File Photo: REUTERS/Fred Greaves
    California Governor Newsom to sue Trump over National Guard deployment amid LA protests
  • File photo of Shafiqul Alam. Photo: Collected
    Positive message for country if CA meets Tarique, but no decision on meeting yet: Shafiqul tells Somoy

MOST VIEWED

  • On left, Abdullah Hil Rakib, former senior vice president (SVP) of BGMEA and additional managing director of Team Group; on right, Captain Md Saifuzzaman (Guddu), a Boeing 787 Dreamliner pilot for Biman Bangladesh Airlines. Photos: Collected
    Ex-BGMEA SVP Abdullah Hil Rakib, Biman 787 pilot Saifuzzaman drown in boating accident in Canada
  • A photo showing the former president on his return to Dhaka today (9 June). 
Source: Collected
    Former president Abdul Hamid returns to Bangladesh from Thailand
  • File Photo: British MP Tulip Siddiq attends a news conference with Richard Ratcliffe, the husband of jailed British-Iranian aid worker Nazanin Zaghari-Ratcliffe, in London, Britain October 11, 2019. Photo: REUTERS/Peter Nicholls/File Photo
    Tulip requests CA Yunus for a meeting over corruption allegations: Guardian
  • Representational image. Photo: Reuters
    Bangladesh reports 3 more Covid-19 cases
  • Muhammad Yunus (L) and Narendra Modi. Photo: Collected
    Modi sends Eid-ul-Adha greetings, Yunus calls for continued bilateral cooperation
  • Photo: Reuters
    Trump says Musk relationship over, warns of 'serious consequences' if he funds Democrats

Related News

  • China's May exports slow, deflation deepens as tariffs bite
  • After a slow April, exports make strong rebound in May with $4.74b in earnings — highest in 11 months
  • Export container volume doubles; 5,000 trucks stuck on highways ahead of Eid
  • Govt approves second phase of 5,800 tonnes aromatic rice exports
  • Light Engineering Assoc makes 7 proposals to boost export, expo begins 29 May

Features

File photo of Eid holidaymakers returning to the capital from their country homes/Rajib Dhar

Dhaka: The city we never want to return to, but always do

11h | Features
Photo collage shows political posters in Bagerhat. Photos: Jannatul Naym Pieal

From Sheikh Dynasty to sibling rivalry: Bagerhat signals a turning tide in local politics

2d | Bangladesh
Illustration: TBS

Unbearable weight of the white coat: The mental health crisis in our medical colleges

5d | Panorama
(From left) Sadia Haque, Sylvana Quader Sinha and Tasfia Tasbin. Sketch: TBS

Meet the women driving Bangladesh’s startup revolution

5d | Panorama

More Videos from TBS

US and China to meet in London for trade talks

US and China to meet in London for trade talks

41m | TBS World
The forbidden point on Cox's Bazar beach is like a death trap

The forbidden point on Cox's Bazar beach is like a death trap

2h | TBS Today
Israeli forces seize Gaza aid boat carrying Greta Thunberg

Israeli forces seize Gaza aid boat carrying Greta Thunberg

4h | TBS World
Which way will the anti-immigration campaign in Los Angeles turn?

Which way will the anti-immigration campaign in Los Angeles turn?

5h | TBS World
EMAIL US
contact@tbsnews.net
FOLLOW US
WHATSAPP
+880 1847416158
The Business Standard
  • About Us
  • Contact us
  • Sitemap
  • Advertisement
  • Privacy Policy
  • Comment Policy
Copyright © 2025
The Business Standard All rights reserved
Technical Partner: RSI Lab

Contact Us

The Business Standard

Main Office -4/A, Eskaton Garden, Dhaka- 1000

Phone: +8801847 416158 - 59

Send Opinion articles to - oped.tbs@gmail.com

For advertisement- sales@tbsnews.net