Bangladesh : BTMA urges govt to re-adjust energy charges

InquiryNow

Please fill in your details to download the Table of Contents of this report for free. We also do customization of these reports so you can write to us at mi@fibre2fashion.com in case you need any other additional information.

Name

Company

Phone Number

Country

Comments

Advanced Search

Save the Dates! The Biggest Silk Expo Is Just Around the Corner! Know More! | Ad

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

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

More Bangladesh Textile Mills Association News... More Textiles News - Bangladesh...

Must ReadView All

Textiles | On 18th Oct 2017

Sutlej Textiles adds American Silk Mills to its portfolio

Sutlej Textiles and Industries Ltd (STIL) has announced the...

Arvind Limited executive directors Punit Lalbhai (left) and Kulin Lalbhai explaining the project to Gujarat chief minister Vijay Rupani. Courtesy: Arvind Ltd

Apparel/Garments | On 18th Oct 2017

Arvind to set up mega apparel facility in Gujarat

Arvind Limited, one of India’s largest textile to retail...

Textiles | On 18th Oct 2017

Cotton stocks accumulating everywhere outside of China

Global cotton stocks outside of China are expected to rise by nearly...

Interviews View All

Angelina Francesca Cheang
MY ANJE

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

Yash Agarwal
Hitansh Online

Every market region has its own culture and trends

Amrit Sethia
SOIE

‘The intimatewear category in India is slowly becoming trend-sensitive.’

Ravindra Jain, Ashish Baid

Oswal Prints Private Limited has been manufacturing and exporting ethnic...

Hardik Sanghvi

Idealin Fogging Systems has been engaged in designing and manufacturing...

C Dhandayuthapani

MAG Solvics Private Limited was established in 1991 to design and develop...

Marcel Alberts
Eurofibers

Coating at a fibre level is a practice not usually seen in the...

Mohammad Hassan
Biax Fiberfilm

About one in every 20 patients picks up an infection while hospitalised....

Lynda Kelly
Suominen Corporation

Suominen Corporation is a manufacturer of nonwovens as roll goods for...

Wendell Rodricks
Wendell Rodricks

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

Divvya and Nidhhi Gambhir
Walnut

<b>Divvya and Nidhhi Gambhir</b> started their career with the launch of...

Judy Frater
Somaiya Kala Vidya

Among the many honours showered on Frater, including Fulbright and Ford...

Press Release

Letter to Editor

RSS Feed

Search Companies

October 2017

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 Skip

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

Yes No Skip

Active Poll

Do you see sustainability as a route to business growth?

Yes

77.3%

13.6%

Skip

9.1%

Total Votes: 66

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

Yes No Skip

Active Poll

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

Yes

60.6%

28.8%

Skip

10.6%

Total Votes: 66

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

Yes No Skip

Active Poll

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

Yes

84.8%

10.6%

Skip

4.5%

Total Votes: 66

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

74.2%

12.1%

Skip

13.6%

Total Votes: 66

E-News Insight

Subscribe Today and Get the
Latest News Update in Your Mail Box.