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Bangladeshi textile manufacturer reported difficulty in issuing L/C

Views: 0     Author: Site Editor     Publish Time: 2022-10-22      Origin: Site

    According to Bangladesh financial express reported on September 12, Bangladesh textile mills association released on Sunday, most of the commercial Banks in Bangladesh as tight are about to open the L/C does not support attitude, this situation will influence the textile mills in Bangladesh imports of raw materials, thus influence the Bangladesh garment exports, further dollar pressure The chairman of the association also wrote to the central bank of Bangladesh to say that Bangladeshi textile manufacturers are unable to import key raw materials such as cotton polyester staple, which is needed by the country's garment manufacturing industry. The association said major Bangladeshi textile manufacturers currently have only three months 'worth of raw materials in stock As it usually takes 3-4 months to import raw materials, the current inventory of raw materials is not enough to maintain the normal operation of textile factories. The Association hopes that Bangladesh Central Bank will give priority to providing foreign exchange support to Bangladesh commercial banks, which handle more import and export trade business, and encourage Bangladesh commercial banks to actively issue letters of credit for importers

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