Some textile mills in Bangladesh have lodged complaint with the country’s central bank (Bangladesh Bank) pertaining to alleged late payments by garment exporters against the raw materials supplied by them.
Media reports maintained this adding the body of textile mill owners, the Bangladesh Textile Mills Association or BTMA, recently approached the Bangladesh Bank seeking a solution to the issue even if in the letter sent to the central bank in this direction, the BTMA demanded the banks be given clear instructions to ensure payment within the stipulated time.
Further, the association also, reportedly, demanded interest in case payment was not settled on time even as BTMA President Mohammad Ali Khokon, reportedly, met with the Governor of the Bangladesh Bank and mentioned the issue in detail.
Reports further added the apparel units, which are main buyer of yarns and fabrics from the local textile mills, have, reportedly, acknowledged the issue of late payment but shifted the blame for the same on foreign buyers over payment delays or non-receipt of the bill.
