Local spinners sit idle on Tk 12,000cr unsold yarn: BTMA

Local spinners are suffering from the stockpiling of Tk 12,000 crore worth of unsold yarn, even as production costs have risen significantly, leaders of the Bangladesh Textile Mills Association (BTMA) said today.

Local producers can hardly compete with imported yarn from India, as Indian traders can supply yarn at lower prices than local sellers and millers, they added.

Leaders of the BTMA made the remarks at a press conference at the Gulshan Club in Dhaka.