Home / Knowledge / News / Apparel/Garments / Bangladesh Textiles Minister bats for lower interest rate
Bangladesh Textiles Minister bats for lower interest rate
Sep '13
Mr. Siddique
Mr. Siddique
Bangladesh’s Minister of Textiles and Jute, Abdul Latif Siddique, has said that single digit bank interest rates are necessary for smooth industrialization in the country.
Inaugurating the “Textech, Dye and Chem and Yarn/Fabric Exhibitons” in Dhaka, the Minister said it is not possible to remain competitive in the international market when the bank interest rate is over 18 percent.
He said if the interest rate is lowered to single digit, owners would be able to pay high wages and thus reducing labour problems, The Financial Express reported. 
During the setting up of industries phase, the interest rate should be two to three percent, and the tax rate can be increased once the industries are set up, the Minister added.
Speaking from the same platform, Bangladesh Knitwear Manufacturers and Exporters Association (BKMEA) vice president Md. Hatem urged foreign investors to take advantage of various facilities offered by the Government and invest in the backward linkage.
About 450 exhibitors from more than 10 countries are participating in the four-day fairs.

Fibre2fashion News Desk - India

Must ReadView All

Textiles | On 10th Dec 2016

India’s 2016-17 cotton import to touch 17 lakh bales

The import of cotton from international markets by spinning mills in...

Textiles | On 10th Dec 2016

US textile & apparel imports fall 6.50% in Jan-Oct ’16

The import of textiles and apparel by United States dropped 6.50 per...

Unipar Carbocloro plant in the city of Cubatão, São Paulo state. Courtesy: Wikipedia

Textiles | On 10th Dec 2016

Brazil’s CADE clears Solvay’s 70.59% stake sale in Indupa

Brazil’s administrative council for economic defence (CADE) has...

Interviews View All

Amardeep Singh
Orient Craft

'In export markets, the trend in terms of embroidery, is towards matte...

Awen Delaval

'Natural fibres are appreciated for traditional authenticity'

Smith Vaghasia
Sanado India

Online remains the best destination for shopping

Johan Berlin
InvestKonsult Sweden AB

Investkonsult Sweden AB has been buying and selling second-hand textile...

Eric Scholler

The Indian market has huge potential in technical textiles, and by far,...

Silke Brand-Kirsch
Schlegel und Partner

Silke Brand-Kirsch, executive partner of Schlegel und Partner, a leading...

Wendell Rodricks
Wendell Rodricks

"We should not compare India and the West. There are things we do that...

Bani Batra

Bani Batra’s couture wedding collection is inspired by traditional Indian...

Yash P. Kotak
Bombay Hemp Company

One of the directors of Bombay Hemp Company, Yash P. Kotak, speaks to...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


Letter To Editor

(Max. 8000 char.)

Search Companies

December 2016

December 2016

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.


Browse Our Archives


Advanced Search