Bangladesh textile industry owners urge to release accepted bills

Textile industry owners have urged the finance minister to defer the instalment of their term loans till January 2025 for the “survival of the country’s apparel export” and urged release of their accepted/mature bills from banks to pay their employees.

In a letter sent by the Bangladesh Textile Mills Association (BTMA) to the minister on 31 July, the industry leaders said, “Necessary steps should be taken to ensure that commercial banks, which provide LCs to textile manufacturing companies, pay the accepted/matured bills on time for yarn and fabric supplied by BTMA. Once the bill amounts are received, member mills will be somewhat relieved from the shortage of necessary working capital for their operations.