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Govt takes measures to check yarn prices
Oct '10
The Government of Bangladesh is taking all the necessary steps to restraint the yarn prices in the domestic market. This was assured by the Commerce Minister M Faruk Khan.

The Minister said that he anticipates a solution for this problem by the coming week.

The Minister is expected to meet the leaders of various associations like BKMEA, BTMA and BGMEA before arriving at a final decision on the yarn price.

The Minister recommended the BKMEA leaders to prepare a report on cotton price trends in the global market for the past three months.

The BKMEA leaders had earlier said that several knit units had been closed down in the country after the rise in cotton prices, as it is the most important raw material required for producing knit products. This led to the dismissal of many workers.

BKMEA leaders revealed that the yarn prices, at present, stood at US $5.10 per kg as compared to $4.50, a few days ago.

The Minister also gave an assurance of controlling the yarn prices after having a discussion with the textile and spin millers of the country.

A team of 34 BKMEA members also requested the government to ensure adequate power and gas supply to knit units.

Fibre2fashion News Desk-India

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