'Govt will move fast forward on proposals' – Textile Minister

09 Feb '09

1 min read

The newly appointed Textiles and Jute Minister, Mr Siddiqui, said, the government will now move fast forward to address the problems of the textile and garment sector, now that the ministry has received the proposals from industry trade bodies and assured the industry of finding a solution, within a week.

Among the demands put forth by the respective associations, they have insisted on a depreciation of the local currency against the US dollar, a moratorium of two years on repayment of loans and check illegal yarn imports as it was detrimental to the interests of the local spinning mills.

Mr Siddiqui was inaugurating the 6th Dhaka International Textile and Garment Machinery Exhibition, where he added by saying that he would take measures to check illegal yarn imports by unscrupulous traders through the Benapole land port and take the right decision in a bid to check illegal yarn imports.

More than 600 companies from 30 countries are exhibiting textile, garment and related machinery equipment in more than 800 booths at the exhibition which is expected to attract a large number of buyers from Bangladesh and neighbouring countries.

Fibre2fashion News Desk - India

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