A press conference was held at Gulshan Club, Dhaka on Saturday (5 July, 2025) at the initiative of Bangladesh Textile Mills Association (BTMA). The press conference, organized with the demand of “immediate withdrawal of 2% AIT on cotton imports, restoration of 15% corporate tax and withdrawal of 5 taka per kg specific tax on yarn produced by domestic textile mills”, was attended by BTMA President Mr. Shawkat Aziz Russell as the chief guest.
BTMA Director Mr. Abdullah Al Mamun delivered the welcome speech at the beginning of the press conference.
BTMA President Shawkat Aziz Russell said in his speech, “Currently, the domestic industry is facing an extreme crisis in gas and electricity supply. Among these, imposing 2% advance income tax (AIT) on cotton imports is a death blow for the industry.” He expressed his anger and said, “Is the government taking such a decision to protect the interests of neighboring countries? Does it want to destroy our textile industry and ensure employment in other countries?”
He said, “The main source of earning foreign exchange is the textile and ready-made garment sector, yet without consulting the relevant stakeholders, a tax of Tk 5 per kg has been imposed on domestic yarn. The result will be unproductiveness and destruction of employment. This will increase unemployment in the country and the textile sector will face destruction.”
He further mentioned, “Currently, new investments are not coming into the country, there is no adequate gas and electricity supply, while the cost of doing business is increasing day by day. Why would foreign investors be interested in investing in such an uncertain environment?”
The BTMA President urged the government to immediately withdraw 2% AIT on cotton imports, reinstate corporate tax at 15% and cancel the Tk 5 specific tax imposed on yarn produced by domestic textile mills.
Also present at the press conference were BTMA Vice President Mr. Saleud Zaman Khan, Director Mohammad Mosharraf Hossain, Mr. Syed Enayet Kabir, Mr. Md. Khorshed Alam, Engineers Rajib Haider, B.M. Shoaib, Md. Shahid Alam, Engineers Ishtiaq Ahmed, Hossain Mahmud, Md. Ayub, Bangladesh Cotton Association President Mr. Amal Poddar, BKMEA Senior Vice President Mr. Md. Badsha Mia and BTMA Secretary General Brigadier General (Retd.) Md. Zakir Hossain.
