Reopening closed factories could create 1.5m jobs: BTMA president

Bangladesh Textile Mills Association (BTMA) President Showkat Aziz Russell said around 1.5 million jobs could be created quickly if closed and partially closed textile factories in the country are reopened.

A delegation led by Showkat Aziz Russell met Prime Minister Tarique Rahman on Wednesday to discuss the current challenges facing the country’s textile industry and seek policy support for the sustainable development and revival of the sector.

Speaking to journalists, the BTMA president said the government is considering adding a floating storage and regasification unit (FSRU) to increase gas supplies, along with alternative fuel options.

“It will take 15 to 18 months to implement these measures, and the government will have to give us that time,” he said.

He said the delegation had also brought the industry’s financial and banking problems to the government’s attention.

“A separate committee comprising the finance and commerce ministers has been formed to resolve the issues. Besides, a 5% export incentive has already been announced, which we believe will help increase exports,” he said.