Bangladesh Textile Mills Association (BTMA) President Mohammad Ali Khokon has said that the country's textile industry will be able to earn $10 billion more per year if the government is able to solve the current Liquefied Natural Gas (LNG) crisis.
He made the statement during a press conference held at a hotel in Dhaka on Saturday.
"The country's export-oriented textile sector has suffered a production loss worth $1.75 billion in the last three months due to the current LNG crisis. The local market producers lost more than $1 billion in production in the corresponding period, the BTMA president added.
On Titas's recent proposal to double the current price of LNG, Khokon said, "If the price hike proposal comes to effect, then the overhead cost of per kg of yarn will also double from its current price ($0.25 to $0.50 per kg)”.
"Why they proposed to increase LNG price while the distribution company gains profit regularly. This will make it difficult for us to survive in this competitive market," Khokon said.
Khokon also demanded an energy policy for the textile sector and said, "We do not want the government subsidy. We need a government policy to regulate LNG and electricity price for the sector," Khokon said.
