Bangladesh Spinning Enterprises Were Hit By Cotton Price Volatility And Banks Were Cut Back On Loans.

　　 The People's Republic of Bangladesh Industrial officials said on Thursday that commercial banks restrict spinning mills. Credit flow As a result, the spinning industry, once thriving, is now struggling to survive because of the fluctuation of cotton prices and the serious energy crisis. Bankers said they did not intend to continue to textile enterprises. loan Because they can't guarantee that the spinning factory has the ability to repay the loan on time, the spinning mill has a huge loss in the near future, making the banks worry about it.

some Spinning mill There are no operating capital, because they do not have any orders. The People's Republic of Bangladesh Textile Enterprise Association (BTMA) former chairman Abdul Martin Chaudhry (Abdul Matin Chowdhury) said that India textile mill took advantage of it and India dumped yarn to Bangladesh clothing factory by cutting throat price.

Mr. Chowdhury, chairman of the spinning board of Malik, said that my turnover last year was 3 billion Taka. In the past two months, my business has dropped by about 75%. The former BTMA executive is worried about the future of the spinning industry in Bangladesh. He said yarn production has dropped by about 50% in the past 6 months. He said, who is willing to lend money to us as poor as we are now?