The finance ministry held a meeting with textile millers and knitwear manufacturers on Tuesday regarding duty-free imports of cotton yarn but failed to reach a decision.
Textile millers have been urging the government to withdraw the duty-free facility on imports of 10–30 count cotton yarn, arguing that cheaper imports—mainly from India—are hurting local spinners. Knitwear manufacturers, however, oppose the move, citing higher production costs.
BTMA President Showkat Aziz Russell said the ministry sought an additional 10 working days to review the issue, effectively delaying any decision until after the national election scheduled for February 12. He noted that the matter may now need to be placed before the next government.
The meeting was chaired by Finance Secretary Md Khairuzzaman Mozumder and attended by leaders from BTMA, BKMEA, FBCCI, and the National Board of Revenue.Earlier in the day, BGMEA leaders also met the finance secretary, who assured them that nearly Tk 3,000 crore of the Tk 5,000 crore outstanding cash incentives would be released soon.
