Bangladesh lifts ban on Indian yarn imports

In a bid to help lower the price of the textile raw material, Bangladesh has lifted its ban on Indian yarn imports.

The National Board of Revenue yesterday issued a notification to the effect in respect of Indian yarn imported through Benapole land port.

According to textile and jute minister Abdul Latif Siddique import of yarn had been opened for all through the land port.

Earlier yarn could only be imported through bonded warehouses.

The decision to lift the ban was taken despite Bangladesh's spinning mill owners' objections who have been opposing the import of Indian yarn on fears they would not be able to sell their products in the local market.

Meanwhile workers from over 1.3 million handloom and power loom units across Bangladesh who were on indefinite strike to press their demand for duty free import of India yarn through the land port returned to work today.