Gas, power crises to hit investments: BTMA

2023-02-15 15:08:02 By : Mr. Sage Hu

Staff Correspondent | Published: 22:48, Feb 12,2023 | Updated: 22:49, Feb 12,2023

Bangladesh Textile Mills Association president Mohammad Ali Khokon speaks at a press conference organised by BTMA at the Sonargaon Hotel in the capital Dhaka on Sunday. BTMA vice-presidents Md Fazlul Haque and Abdullah Al Mamun and Yorkers Trade and Marketing Service Co Ltd president Judy Wang, among others, were present. — New Age photo

Uncertainties loom large over potential investments worth Tk 1 lakh crore in the country’s primary textile sector due to gas and electricity crises, textile millers said.

At a press conference at the Sonargaon Hotel in the capital Dhaka on Sunday, the Bangladesh Textile Mills Association said that the government increased the price of gas with the aim of ensuring uninterrupted supply to the industry, but the situation was yet to improve.

The BTMA organised the press conference on the eve of the 17th edition of Dhaka International Textile and Garment Machinery Exhibition (DTG-2023) to be held on February 15-18 at the International Convention City Bashundhara in Dhaka.

‘There are potential investments worth Tk 1,00000 crore in the textile sector, but there is doubt whether the potential investments will take place without ensuring uninterrupted supply of quality gas and electricity,’ BTMA president Mohammad Ali Khokon said at the press conference.

He said that investments worth $6.06 billion and $4.14 billion were made in 2021 and 2022 respectively in Bangladesh textile sector and the amount might increase if the government could have ensured required infrastructure and energy.

Khokon demanded that the government complete the development of at least 10 special economic zones for the primary textile sector on a priority basis so that entrepreneurs could set up non-cotton-based yarn and fabric mills in the areas.

The demand for artificial fibre-based garments is increasing in a faster pace on the global market and the share of non-cotton-based apparel products would exceed 70 per cent within two or three years, the BTMA president said.

Two other parallel shows — Dhaka Int’l Textile and Apparel Accessories Exhibition and Dhaka Int’l Dyeing and Chemical Industry Exhibition — will also take place in the same venue.

The exhibitions are jointly organised by the BTMA and the Yorkers Trade and Marketing Service Co Ltd.

More than 1,200 global brands from 35 countries and regions would display advanced technologies, cutting-edge solutions, and latest trends of the textile garment industry in 1,600 booths.

DTG will exhibit comprehensive covering equipment, material and accessories needed in different stages of textile and garment industrial chains, including spinning, weaving, knitting, dyeing, printing, finishing and garment manufacturing segments, organisers said.

Brands including chief spinning equipment suppliers Truetzschler, Saurer, Murata and Ctmtc, weaving equipment brands Itema, Picanol, Staubli and Toyota, circular knitting machinery brands Lisky, Mayer & Cie, Pai Lung, Santoni and Beworth, flat knitting machinery brands Cixing, Shima Seiki and Stoll, warp knitting machinery specialist Karl Mayer, dyeing equipment suppliers Acme, Fong’s, Monforts, Son-Tech and Thies, printing machinery specialists M&R, Mimaki, Ms, Oz and Colorjet, cutting machines suppliers Ima, Kuris and FK Group, and embroidering machine suppliers Tajima would showcase their machinery in the exhibitions.

Khokon said that prime minister’s private sector industry and investment adviser Salman F Rahman would inaugurate DTG-2023 on February 15.

The BTMA said that after three years of hiatus by the Covid pandemic, DTG-2023 was offering total solutions for the entire textile and garment manufacturing chains.

The exhibition continues to follow the world-wide industry trends, connect with the global supply chains to meet the industry›s ever-increasing demand, it said.

BTMA vice-presidents Md Fazlul Haque and Abdullah Al Mamun and Yorkers Trade and Marketing Service Co Ltd president Judy Wang, among others, attended the press conference.

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Editor: Nurul Kabir , Published by the Chairman, Editorial Board ASM Shahidullah Khan on behalf of Media New Age Ltd. Hamid Plaza (4th floor), 300/5/A/1, Bir Uttam CR Datta Road, Hatirpool, Dhaka-1205. PABX: +8802-9632245-48. Fax: +8802-9632250, E-mail: [email protected]

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