Bangladesh plans to form a committee of representatives from four apex organizations of the textile and apparel sector to fix the maximum price of yarn in coordination with the international market. As per Dhaka Tribune, the country will not increase yarn prices before the committee is formed. At a meeting in Bangladesh, Mohammad Hatem, Vice President, BKMEA, revealed, arbitration committee will resolve all disputes amicably in the future. The meeting was attended by Farque Hassan, Managing Director and Tanvir Ahmed, Director, BGMEA.

Textile mill owners pointed out the rise of cotton prices in the international market had led to the hike of yarn price in the local market. However, their view was not accepted by apparel industry owners’ organization who said garment exports were hampered by rising price of yarn and purchase orders could not be taken, the country's spinning sector, along with apparels, would incur huge losses.

Hassan demanded 30-count yarn price be brought down immediately — keeping it consistent with the international market — to save the industry and keep the industry’s competitiveness and help it survive in this crucial time.