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Exclusive Interview

Yarn import from India by land port should be stopped

It should be done by sea ports to protect local textile industry BTMA President Showkat Aziz Russell tells

Published : Sunday, 16 February, 2025 at 12:00 AM  Count : 466
Jibon Islam
Yarn import from India by land ports including Benapole, Bhomra and Sona Masjid should be stopped and instead it should be imported by sea ports to protect local textile industry.

Showkat Aziz Russell, President of Bangladesh Textile Mills Association (BTMA) and Chairman and Managing Director of AMBER Group; made the observation in an interview with the Daily Observer.

He said yarn and cloth are imported at dumping prices through land ports using favors of concerned customs officials and it is supplied to local market. As a result, it affects the local textile sector. So banning of yarn import through land ports should be executed in the interest of domestic textile sector.

He also said since yarn import through land ports was stopped earlier, the textile sector in the country developed rapidly and it helped an investment of $22 billion in this sector. It also resulted in massive employment.

He said by prioritizing sea ports and stopping yarn import through land ports it will stop misdeclarations of imports. Yarn import from India stood at $2.7 billion last year and some estimates suggest that the use of land ports last year contributed to facilitating at least 40 percent increase in yarns and clothes imports.

To a question on investment and industrialization; Showkat Aziz said a crisis in industrialization is going on at the moment. Chinese investment is going to different countries; instead coming 100 percent to Bangladesh for problem in banking sector. "We are failing to utilize Chinese investment," he said

Another reason for Chinese investment going to other countries is that the previous government looted and smuggled hundreds of billions of dollars abroad. Businessmen are being forced to pay.

Moreover, the country's investment is facing challenges due to increase in interest on bank loans, soaring inflation, rising gas and electricity prices and increased utility prices to cause exorbitant cost in doing business.

On top of it, depreciation of the value of taka has increased the price of raw materials to cause stagnation in investment.

And by using this opportunity, India has increased investment and employment - which Bangladesh has failed.

Neighboring countries achieved business competitiveness to adopt long-term plans. On the other hand, no plan has been adopted for industrialization in Bangladesh because of increase in the prices of all other things, reflecting a negative image for industrialization.
To another question Shawkat Aziz said, there is still time to turn around. The government should pay special attention to develop and diversify export industries. All channels for illegal imports and misdeclarations should stop.

The previous government gave undue opportunities to some people to rob banks approving loans indiscriminately. In this situation, most banks have now become sick and it now needs consolidation or merger. In Malaysia, more than a hundred banks have been merged into four to five banks. Bangladesh needs to follow Malaysia's path.

Showkat Aziz said the government should take appropriate steps to provide stimulus packages to the export-oriented industrial sector by conducting cost-benefit analysis. Along with identifying potential sectors, necessary steps should also be taken by issuing notifications or SROs. In this case, steps should be taken about remedial measures after discussing with concerned associations and chambers.

He said the government should take corrective measures quickly instead of keeping proposals of various associations and chambers locked in the cupboard. It should give importance to reconstitute banks. Along with this, the government should get rid of old habits and adopt new accountability.

Shawkat Aziz said if we want to double the RMG and textile production in future, use of artificial fiber should be given priority. Along with this, we should support this sector politically. Artificial fiber is a potential sector, he said.

He said the world's 70 percent market is now dominated by 'artificial fiber made clothes;' although Bangladesh has so far failed to create a position in this sector. We have to enter this sector. The government must provide all-round support in this regard.

He further said the government is closing the domestic plastic industry to stop the use of environmentally harmful plastic products. Lot of investment is facing harm as a result of it. Polythene industry must not be destroyed. Rather we must establish alternative industries using polythene waste as raw material.

IT is strange, domestic polythene factories are being closed in one hand while on the other plastic bottles are being imported which seems to be a two-pronged policy. It is claimed that these imported bottles are not harming the environment. If that is the case; then the bottles should be allowed to be imported without bonds and duty-free; as is the case with cotton.

He said another potential sector is leather; synthetic or non-leather shoe-making factories should be established. It is possible to earn a lot of foreign currency by exporting these products. Along with this, there is a possibility of creating a lot of employment. Therefore, the leather sector should be utilized properly.

There is no alternative to establishing import substitute industries, especially textiles and other export-oriented industries. The government must pay attention to these issues and take constructive timely decisions.

Showkat Aziz said, if 10 percent of the looting money that were taken in the last 15 years were invested in the industrial sector, its impact on the Bangladesh economy would have been tremendous.

He said, as different countries developed; they moved from labor-intensive industries to advanced technology-based industries.

In this situation, labor-intensive industries of developed countries have been transferred to third world countries.

Bangladesh could have taken 100 percent of the opportunity, but it failed to amply benefit. The government must review its industrial policy to align it with changing time.



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