Dhaka, Feb. 18 -- Textile mills will face closure one after another if the government doubles gas prices, Bangladesh Textile Mills Association (BTMA) president Showkat Aziz Russell has said.

Doubling the price will also discourage both local and foreign investment, especially those who want to be relocated from China, he said.

The BTMA president made the remarks while speaking at a press conference on Tuesday held in a city hotel.

"If the gas price is doubled, Bangladesh's textile sector will not be sustainable. And there would be no new investments," he said.

Banks have not so far financed any new projects during the last six months, the BTMA president said.

The press conference was organised to announce the country's largest textil...