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Minister assures resolution of jute, textile sector problems
06
Jun '11
Mr. Abdul Latif Siddiqui
Mr. Abdul Latif Siddiqui
Abdul Latif Siddiqui, Bangladesh's Minster for Textiles and Jute, while speaking at a seminar on “Jute and Textile Sectors Problems and Potentiality: Bangladesh Perspective,” provided an assurance to the business leaders of country's two budding economic industries – jute and textiles – that the Government would make all efforts to solve their problems.

At the seminar organized by the Federation of the Bangladesh Chambers of Commerce and Industry (FBCCI), the Minister asked the business leaders to provide him a list of the issues for which they need solutions on a priority basis. He assured them that the issues will be discussed with the Prime Minister and the Finance Minister before the new budget.

Mr. Siddiqui felt that the textile industry has better potential than jute sector, although the performance of jute industry is now improving due to effective management. He added that the state-run jute mills have now started earning profits.

Mr. A K Azad, the FBCCI President stated that high lending rates and energy crunch are the main problems which hamper industrialization. Even after having invested a huge amount to establish the industries, over 200 units are yet to start operations owing to the short supply of gas.

“The European Union's new Generalised System of Preference (GSP) facility is posing a threat to the primary textile sector. This has led to the closure of several spinning mills, and many other units are on the brink of shutting down,” Mr. Azad said.

Mr. Azad said that the FBCCI members are not interested in new commitments by the Governments, but would like to see action being taken on the commitments regarding resolving the problems facing the textile and jute industries. He demanded a cut in the lending rate on bank credits from the present 18 percent to a single digit level.

Syed ABM Humayun, the acting Chairman of Bangladesh Jute Mills Association (BJMA) said, “If the Government properly implements the law necessitating the use of jute items for packing as per the 2010 legislation and makes it mandatory, it could boost the use of domestic jute items.”

Mr. Humayun demanded the announcement of the Jute Policy 2011 by way of official gazette notification to facilitate its proper implementation. He asked the Government to extend equal support to both the private as well as public jute mills.

Jahangir Alamin, the President of Bangladesh Textile Mills Association (BTMA), in his key-note address, said that the Government should immediately initiate measures to protect the country's primary textile industry.

Fibre2fashion News Desk - India

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