Buy yarn from local market: BTMA to garment makers

Bangladesh Textile Mills Association (BTMA) has urged woven and knit garment makers to open back-to-back letters of credit (LCs) and purchase yarn from the local market in order to avoid the stockpile of unsold yarn and save US dollars.

In order to help them deal with the problem brought on by the unsold yarn, the textile millers also urged that the government increase the Export Development Fund (EDF) allocation from $20 million to $30 million.

Mohammad Ali Khokon, president of Bangladesh Textile Mills Association (BTMA), placed the demands at a press conference at the BTMA office in Dhaka on Tuesday.