BTMA to shut down all textile mills

D H A K A : Bangladesh Textile Mills Association (BTMA) has declared that it will shut all textile Mills in the countryannouncement was made at a pressbriefing at the BTMA office in thecapital’s Karwanbazar on Thursday.

President of the organization ShawkatAziz Russell made the announcementand said, “the government did not takeany effective measures to protect thecountry’s yarn producing mills.As a result, we are going toshut down all textile mills in thecountry and it will be effective from 1st February.”We do not have the capacityto repay bank loans at all. On the otherhand, our capital has decreased tomore than half as well as there is noanother way to repay the bank dues,”he added. Shawkat Aziz Russell wenton saying that it will not be possiblefor them to repay the liabilities byselling all their assets. Others leadersof BTMAwere present at that time.