Dhaka, Jan. 19 -- The Bangladesh Garment Manufacturers and Exporters Association (BGMEA) and the Bangladesh Knitwear Manufacturers and Exporters Association (BKMEA) have promised to source yarn from local spinning mills if it is supplied at international standards and at competitive prices.

Speaking at a joint press briefing, BGMEA Acting President Selim Rahman said: "Compared to imported yarn, local spinning mills are charging Tk 46 more per kg. Now, under the pretext of protecting domestic industry, import restrictions are being imposed, creating an artificial protection that is effectively turning yarn into a monopolised market."

Pointing out that importing yarn from neighbouring India is cheaper, he said: "If yarn can be supplied at...