May 18Th, Bangladesh Opens Land Port To Import India Yarn.
Bengal National Tax Committee (NBR) issued a notice to withdraw the import through the Benapole land port.
yarn
The ban.
The yarn that allows four kinds of yarn to be imported through the port is 82 / 1100 / 1100 / 2 and 120 / 1.
The State Tax Commission said yesterday that
Spin
The committee made a decision yesterday with recommendations from the jute department.
Previously, only bonded warehouses were allowed to import yarn.
Looms complain that in October last year, the price of 40 pounds of yarn was 65 Tucca, and now it has risen to 115 Taka.
Bangladesh handlooms and power looms Association said that about 600 thousand of looms had been shut down, and the remaining 1 million 400 thousand looms were less productive than the others because the yarn prices were too high.
Bangladesh handloom industry meets 80% of the national cloth demand.
According to the industry, Bangladesh needs 1 million tons of yarn per year, of which 700 thousand tons are digested by the knitting sector and the rest of the yarn is digested by other weaving industries.
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