Coordination committee formed with BGMEA, BKMEA and BTMA representatives following yarn price hike
Dhaka, Sep 27 (UNB) - In the wake of the yarn price hike, a nine-member coordination committee has been formed comprising members from the BGMEA, BKMEA and BTMA to safeguard the interests of these three Associations while addressing the problems.
The coordination committee comprises three members each from the Bangladesh Garment Manufacturers and Exporters Association (BGMEA), Bangladesh Knitwear Manufacturers and Exporters Association (BKMEA) and Bangladesh Textile Mills Association (BTMA).
The decision was taken at a tripartite meeting among the three trade bodies held at the BTMA office.
The meeting also decided that the BTMA will take necessary steps to contain the price of yarn within a rational and tolerant level, and that the coordination committee will take necessary measures to
address other demands on the issue.
At the beginning of the meeting, the BGMEA and BKMEA leaders submitted a seven-point proposal before the BTMA due to abnormal price hike of yarn.
The demands include containing the price of yarn within a rational and tolerant level in line with the international market, taking necessary measures to rein in the yarn price hike on an hourly basis,
making announcement by the BTMA at least 30 days before the yarn price is raised, keeping the period of Proforma Invoice to at least 30 days, keeping the price of yarn stable at a certain level for at least 90 days, forming a committee comprising representatives from the BGMEA, BKMEA and BTMA to protect their interests, and finally taking effective measures to keep the government monitoring cell in constant monitoring.
BKMEA president AKM Selim Osman, 1st vice president Alhaj Habibur Rahman, 2nd vice president Mohammad Hatem, BGMEA president Abdus Salam Murshedy, vice president Faruque Hasan, BTMA president Abdul Hai Sarker, former president Sohel F Rahman, M Shahjahan, A Matin Chowdhury and Cotton Importers Association president M Ayyub were present.
The yarn price was hovering at around $4.55 to $4.65 (30’s) till September 26, much to the sufferings of the garment producers. The yarn price last September ranged around $ 2.65.
The coordination committee comprises three members each from the Bangladesh Garment Manufacturers and Exporters Association (BGMEA), Bangladesh Knitwear Manufacturers and Exporters Association (BKMEA) and Bangladesh Textile Mills Association (BTMA).
The decision was taken at a tripartite meeting among the three trade bodies held at the BTMA office.
The meeting also decided that the BTMA will take necessary steps to contain the price of yarn within a rational and tolerant level, and that the coordination committee will take necessary measures to
address other demands on the issue.
At the beginning of the meeting, the BGMEA and BKMEA leaders submitted a seven-point proposal before the BTMA due to abnormal price hike of yarn.
The demands include containing the price of yarn within a rational and tolerant level in line with the international market, taking necessary measures to rein in the yarn price hike on an hourly basis,
making announcement by the BTMA at least 30 days before the yarn price is raised, keeping the period of Proforma Invoice to at least 30 days, keeping the price of yarn stable at a certain level for at least 90 days, forming a committee comprising representatives from the BGMEA, BKMEA and BTMA to protect their interests, and finally taking effective measures to keep the government monitoring cell in constant monitoring.
BKMEA president AKM Selim Osman, 1st vice president Alhaj Habibur Rahman, 2nd vice president Mohammad Hatem, BGMEA president Abdus Salam Murshedy, vice president Faruque Hasan, BTMA president Abdul Hai Sarker, former president Sohel F Rahman, M Shahjahan, A Matin Chowdhury and Cotton Importers Association president M Ayyub were present.
The yarn price was hovering at around $4.55 to $4.65 (30’s) till September 26, much to the sufferings of the garment producers. The yarn price last September ranged around $ 2.65.
Comments
No Comments on this News
