After Banging Up, The Bangladesh Government Strictly Restricted The Import Of Cotton Yarn.
The number of imported cotton yarns imported from Benapole is not restricted, resulting in heavy losses in India's local spinning factories.
It has been reported that at least 10 of the spinning mills have been closed, and many other factories have maintained relatively low capacity.
Therefore, the industry organization loudly appealed to the government to restrict the import of cotton yarn.
The government has finally begun to consider the threat and impact of imports on the indigenous textile industry in Bangladesh.
The government has again imposed procedural restrictions on the import of cotton yarn through Benapole.
That is, the enforcement of more stringent verification procedures in the clearance of goods.
Earlier, in February 2006, the government strictly controlled imports of yarn from Benapole, including gauze and chemical composition tests.
However, last year's outgoing government relaxed the policy, resulting in a large number of India cotton yarn entering Bangladesh, and the price of India cotton yarn was lower than that of most of the Bangladesh spinning mills.
Now that the spinning mills are closed, a large number of previously invested loans will be at risk. In recent years, about 345 spinning mills have been flashing red lights. Banks may not be able to recover loans from most spinning enterprises. In the process, banks may still be unable to turn around.
Editor in chief: Xu Qiyun
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