Govt suspends order restricting 10–30 count yarn imports

The government has suspended its order to withdraw bonded warehouse facilities and require bank guarantees for imports of 10–30 count cotton yarn.

In a letter to the chairman of the National Board of Revenue (NBR) on Sunday, the Ministry of Commerce said the order had been suspended for further review.

On 7 September, the ministry had asked the NBR to withdraw bonded facilities for imports of 10–30 count yarn to protect local yarn manufacturers and facilitate the supply of raw materials to genuine exporters.

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President of Bangladesh Garment Manufacturers and Exporters Association (BGMEA) Mahmud Hasan Khan Babu welcomed the government’s latest decision.

He said representatives of the BGMEA, Bangladesh Knitwear Manufacturers and Exporters Association (BKMEA) and Bangladesh Textile Mills Association (BTMA) would meet soon to resolve the issue.

The decision comes amid a dispute between local textile mill owners and garment exporters over restrictions on the import of raw materials such as yarn and fabrics.