BTMA to shut down all textile mills

DHAKA : Bangladesh Textile Mills Association (BTMA) has declared that it will shut all textile mills in the country. The announcement was made at a press briefing at the BTMA office in the capital’s Karwanbazar on Thursday. President of the organization Shawkat Aziz Russell made the announcement and said, ”the government did not take any effective measures to protect the country’s yarn producing mills.

As a result, we are going to shut down all textile mills in the country and it will be effective from 1st February.

”We do not have the capacity to repay bank loans at all. On the other hand, our capital has decreased to more than half as well as there is no another way to repay the bank dues,” he added. Shawkat Aziz Russell went on saying that it will not be possible for them to repay the liabilities by selling all their assets. Others leaders of BTMA were present at that time.