Dhaka, July 6 -- Leaders of the country's primary textile mills demanded immediate withdrawal of recently imposed 2.0 per cent advanced income tax (AIT) on cotton imports to avert factory closures.

They also urged the interim government to maintain the 15 per cent corporate tax until 2028 and exempt the specific tax of Tk 5 per kg at the production stage on cotton yarn, synthetic and other types of fibers.

Bangladesh Textile Mills Association (BTMA) leaders placed the demands at an emergency press conference held at Gulshan Club in the city on Saturday.

BTMA President Showkat Aziz Russell, who has both textile and fabric mills, said the additional costs will force him to import yarn from India instead of sourcing from his own mill.

"T...