B Mirror Desk : The commerce ministry has urged the National Board of Revenue (NBR) to implement measures to halt the importation of yarn via all land ports, aiming to safeguard the local industry. Additionally, it has proposed necessary amendments to the current statutory regulatory order (SRO) regarding this matter. A letter was dispatched on Thursday, outlining the recommended next steps.

Information from the Bangladesh Textile Mills Association, which gathered feedback from stakeholders and conducted essential investigations, indicates that all varieties of imported yarn entering Bangladesh are significantly undervalued when compared to the prices reported at the Chittagong Customs House. This situation hampers local yarn manufacturers’ ability to compete effectively against these lower-priced imports.

The letter highlights that the average yarn prices from China, Turkey, Uzbekistan, and Bangladesh are relatively similar, yet the yarn imported through land ports is priced considerably lower. Furthermore, yarn produced in northern and southern India is being stored in Calcutta for expedited shipping due to its cost-effective entry into Bangladesh, leading to the use of these imports over domestically produced yarn.

“The domestic textile industry is incurring losses due to yarn imports,” the letter states. Industry experts assert that Indian textile mills are deliberately dumping yarn and fabrics into Bangladesh, posing a threat to local industries.