Dhaka, Jan. 22 -- Spinning mill owners warned of an indefinite shutdown of all mills from February 1 if the Ministry of Commerce does not implement its recommendation to withdraw the bond facility on the import of 10-30 count cotton yarn within the next seven days.

They also demanded incentives or equivalent policy support for domestically produced yarn to help local mills survive amid rising costs and unfair competition from subsidised imports.

The warning came from an emergency press conference organised by the Bangladesh Textile Mills Association (BTMA) at its office in Dhaka on Thursday.

Showkat Aziz Russell, president of the BTMA, announced the demands while other leaders of the association spoke at the event.

BTMA leaders said t...