The Bangladesh Textile Mills Association (BTMA) has urged the government not to raise gas prices again, saying that the proposed hike will negatively affect the country's textile and garment industry. BTMA leaders led by its vice president Fazlul Hoque met state minister for jute and textile Mirza Azam made this appeal. The delegation informed the minister that many mills will shut down if the proposed hike is implemented.
The sector will face further challenges due to recent global cotton price hike, the stimulus textile package worth rupee 60 billion by India, they expressed fear. Titas Gas Transmission and Distribution Company Ltd recently sent a proposal to Bangladesh Energy Regulatory Commission recommending 130 per cent and 62 per cent gas price hike in captive power producers and the industrial sector.
The textile sector has been passing through a hard time since the 100 per cent price hike in September last and is now facing tough competition with competitor countries, the statement added.
