Industry bodies urge Bangladesh govt to save spinning sector

Three major industry bodies in Bangladesh recently urged the government to take urgent measures to protect struggling domestic spinning mills.

The Bangladesh Garment Manufacturers and Exporters Association, the Bangladesh Knitwear Manufacturers and Exporters Association and the Bangladesh Textile Mills Association made the request following a meeting of three organisations to discuss the ongoing crisis in the spinning sector.

Without swift intervention, the domestic spinning industry could face a shutdown at any moment, they cautioned. This could lead to job losses and significant financial shocks to banks and financial institutions.

This may also force the domestic textile and apparel industry to rely heavily on imports, posing a serious threat to long-term competitiveness, they were cited as saying by domestic media outlets.