BTMA seeks extension of incentive loan repayment period
Economy
The Bangladesh Textile Mills Association (BTMA) has urged the Bangladesh Bank to extend the repayment period for incentive loans by an additional two years.
In a letter sent to the central bank, the BTMA stated that like other industries in the country, the textile sector has been affected by the Covid-19 pandemic and the subsequent Russia-Ukraine conflict.
BTMA President Ali Khokon handed over the letter to Bangladesh Bank Deputy Governor Abu Farah Md Naser, reports Prothom Alo.
The BTMA, in its letter, also highlighted the challenges faced due to escalating currency exchange rates, surging gas prices, and rising worker wages.
The letter emphasised that without adequate incentives and policy support for BTMA's member mills, survival in the current challenging global scenario is quite impossible.
The BTMA expressed concern that if this situation persists, the textile industry may face risks of financial distress.
As a result, the industry urgently requires incentives and policy support to ensure its survival, it added.
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