Home / Knowledge / News / Textiles / BTMA urges govt to re-adjust energy charges
BTMA urges govt to re-adjust energy charges
Nov '12
Mr. Jahangir Alamin
Mr. Jahangir Alamin
Calling on the Government to take wise measures to re-adjust the energy prices, Bangladesh Textile Mills Association (BTMA) president Jahangir Alamin said abrupt rise in energy charges may badly impact the country’s textile sectors, which is considered to be a key stimulator of the nation’s economy.
At a media briefing, Mr. Alamin said Bangladesh has a potential to largely draw the investment from China, where production has almost halved due to high wages. Chinese investors are looking at shifting their industries to Bangladesh, however high cost of energy and high interest on bank loans are impeding their way.
He added that the Government is planning to increase the energy rates by 104 percent, which is likely to annihilate the textile industry which operates with 1200 mega watt captive generation.
Noting that the weaving segment of the textile industry necessitates large-scale investment to cater to the rising demand of the garment sector, Mr. Alamin said the abrupt rise in energy charges and high bank rates are blocking investments.
While in 2009, the textile sector in Bangladesh attracted investments of Tk 10.7 billion, the volume reduced to Tk 0.99 billion in 2010 and 2011, due to increased energy cost and high interest rates on loans which now prevails at over 18 percent, he said.
Appreciating the Government for the part played by it in development of the textile sector, the BTMA chief specifically highlighted the five percent cash incentive scheme introduced by the Government when the global cotton prices were rising at unusual pace.
He said high bank rate and spiralling energy charges would hold back the overseas investors from investing in the domestic weaving sector, which is already impacted by the one stage GSP facilities.
Mr. Alamin requested the Government to re-adjust the energy charges, as around €3.15 billion has been invested in the textiles sector, which directly and indirectly employs around two million people.

Fibre2fashion News Desk - India

Must ReadView All

Courtesy: Myntra

Apparel/Garments | On 3rd Dec 2016

Myntra to be EBITA positive by FY18: CEO Narayanan

Myntra is on track to achieve sustainable growth and be EBITA...

Courtesy: India ITME Society

Textiles | On 3rd Dec 2016

India ITME 2016 opens with over 1050 exhibitors

The India International Textile Machinery Exhibition (India ITME)...

Courtesy: Bruckner

Textiles | On 3rd Dec 2016

Indian textile companies opt for Brückner stenter lines

Indian textile firms Laxmipati Sarees, makers of polyester sarees and ...

Interviews View All

Smita Murarka

‘There is huge demand in the Indian lingerie market for non-wired styles.’

Asim Dalal
Indo Count Retail Ventures

Today, there is no other emerging market as India, "we make in India and...

Rashi Menda

Every fifth sale we make on Zapyle is a repeat purchase

Silke Brand-Kirsch
Schlegel und Partner

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

Kerem Durdag
Biovation II LLC

Kerem Durdag, CEO, Biovation II LLC, provides an insight into future...

Suresh Patel
Sidwin Fabric

Sidwin Fabric is a manufacturer and exporter of polypropylene textiles and ...

Tony Ward
Tony Ward

"You have to truly understand what your client wants, know her needs, what ...

Prathyusha Garimella
Prathyusha Garimella

Hyderabad-based designer Prathyusha Garimella is known for blending...

Robert Brunner

Golfwear and menswear brand Devereux is set for greener pastures. Robert...

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