In light of the significant depreciation of the local currency against the US dollar, textile millers are urging the Bangladesh Bank to enhance the limit of letters of credit (LCs) to facilitate the importation of more raw materials.
The Bangladesh Textile Millers Association (BTMA) conveyed this request in a letter to the central bank last week.
The association also sought a higher limit for single borrowers and proposed paying 20 per cent of their term loans in the current year, with the remainder deferred for four years after the payment period concludes.
Additionally, the BTMA called for an equal conversion price of dollars for both remitters and exporters or a shift to a market-based dollar price.
To address the challenges posed by global economic pressure, a volatile dollar market, and political uncertainty, textile millers are also seeking an extension of the repayment period for the stimulus package provided during the Covid-19 pandemic.
Bharat Tex Special Report 2026 
