BGMEA vents concern over high yarn prices
BSS,Dhaka
Acting president of Bangladesh Garments Manufacturers and Exporters Association (BGMEA) SM Nurul Haque Thursday expressed deep concern over the 'unusual rise' of cotton yarn prices, saying it may cause a severe debacle for export-oriented industry. In a statement, Haque said the apparel exporters could not stand in price negotiations with international buyers because of the price hike of the yarns as a result of which the country was losing export orders. "This has created a situation for which the country may lose the international market," he said. The acting BGMEA chief said several knit units have already been shut as they could not buy the yarns at the higher price. He, however, acknowledged that the cotton price very recently increased in the international market but before the cotton could reach the country the local yarn price increased endangering the knit units. The BGMEA leader urged the finance minister to allow at least for a temporary period the import of yarn through the Benapole land port under close government monitoring. He also urged the government to provide alternative incentives for the survival of the knit industries in view of the current situation.
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