Home / Knowledge / News / Textiles / BTMA urges govt to re-adjust energy charges
BTMA urges govt to re-adjust energy charges
28
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

US announces final CVD on fine denier PSF from China, India

Textiles | On 19th Jan 2018

US announces final CVD on fine denier PSF from China, India

The US secretary of commerce Wilbur Ross recently announced the...

EU consumers to gain from cheaper, safer, better e-payments

Apparel/Garments | On 19th Jan 2018

EU consumers to gain from cheaper, safer, better e-payments

European consumers can now reap the full benefits of paying online...

Courtesy: Epson

Textiles | On 19th Jan 2018

Epson's new SC F2100 enhances DTG printing

Epson, a leader in inkjet printers and digital textile printing...

Interviews View All

Angelina Francesca Cheang
MY ANJE

'Consumers in the age-group 21 to 38 are driving the activewear trend'

Anavila Misra
Anavila Collection

Fashion shows are also encouraging and highlighting sustainable fashion

Vasanth Kumar
Max Fashion India

‘Traditional high-street retailers are now willing to offer franchisees to ...

Sugandha Bhardwaj

<div>New Delhi-based Brinjal Designs Pvt Ltd manufactures home furnishing...

Rikesh Mistry

Jupiter Comtex Pvt Ltd, established in 1973, started its textile machinery ...

Erik Sy

Manila-based CustomThread is a start-up offering premium custom apparel...

Larry L Kinn
Suominen Corporation

Larry L Kinn, Senior Vice President - Operations Americas of Suominen...

Kerem Durdag
Biovation II LLC

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

Kevin Nelson
TissueGen

Kevin Nelson, Chief Scientific Officer, TissueGen discusses the growing...

Sanjukta Dutta
Sanjukta's Studio

<b>Sanjukta Dutta</b> creates unique garments by clubbing prints of...

Igor Chapurin
Chapurin

"Now we can see the Russian trend in international fashion. And Russian...

Anisha Chaudhari
Threads & Shirts

Threads &amp; Shirts is a freshly-tailored concept providing men/women a...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH

January 2018

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

news category


Related Categories:

Planning to Take the Leap towards
Sustainability?

Do you see sustainability as a route to business growth?

Yes No

Do you think the sustainability space has the needed tools and resources available for a business to lead change?

Yes No

Active Poll

Do you see sustainability as a route to business growth?

Yes
69.1%
No
13.4%
Skip
17.5%

Total Votes: 97

Do you think adopting a sustainable approach will be a profitable move for your business?

Yes No

Active Poll

Do you think the sustainability space has the needed tools and resources available for a business to lead change?

Yes
63.9%
No
28.9%
Skip
7.2%

Total Votes: 97

Do you want the world to know about your sustainability journey and your business’ environmental footprint?

Yes No

Active Poll

Do you think adopting a sustainable approach will be a profitable move for your business?

Yes
87.6%
No
9.3%
Skip
3.1%

Total Votes: 97

Thanks for your valuable feedback. Claim your free latest sustainability e-book.

Active Poll

Do you want the world to know about your sustainability journey and your business’ environmental footprint?

Yes
82.5%
No
8.2%
Skip
9.3%

Total Votes: 97


E-News Insight
Subscribe Today and Get the
Latest News Update in Your Mail Box.
Advanced Search