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The country's primary textile millers have urged the government for low-rated bank loans to provide wages and utility bills for July'24 to offset losses caused due to last two weeks' economic stalemate over the anti-quota movement.
Bangladesh Textile Mills Association (BTMA) also demanded measures so that commercial banks release their accepted/mature bills against back to back letter of credits (L/C) for yarn and fabric to RMG exporters.
The BTMA in a letter on Wednesday to the finance minister minister made the pleas.
"Once the bills are received, member mills will get some reliefs from the shortage of necessary working capital for their operations," Mohammad Ali Khokon said in the letter.
He said during the last two weeks mills could not collect raw materials timely, local mills could not sell their produced goods due to closure of local market while export-oriented mills failed to ensure timely supply, he explained.
"Many mills remained closed during the last two weeks unstable situation. As a result, mills are in dire financial crisis," he said in the letter.
Textile Mills are passing hard time due to order cancellation, halt in production, absence of workers and raw materials supply disturbance, he noted.
He expressed fear of not making timely workers' wage payment for the month of July and demanded bank loan at 2.0 per cent interest rate for a year.
Mr Khokon also sought same loan facility with 2.0 per cent interest rate for a year to pay gas and electricity bills for July'24.
The BTMA leader also urged the ministry for its intervention so that central bank take required measures to suspend the payment of term loan installments for six months.
In that case, he further demanded interest free repayments of term loan for next six months and suspended repayments during the time.
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