Weavers getting interest free loans

The government is implementing an interest-free and low-service loan scheme for weavers due to low supply of cotton and rising yarn prices.

This information was given by the Minister of Textiles and Jute Golam Dastagir Gazi in response to a question presented in the budget session of the National Assembly on Sunday (June 6).

Replying to a question by Tanvir Shakil Joy, MP from Sirajganj-1 constituency, the Textile and Jute Minister said, “It is learned that the price of yarn has gone up due to low supply of cotton, the raw material for making yarn.” BTMA has been requested by the Bangladesh Weaving Board to keep the market price of yarn stable, supply yarn at fair prices and record the fixed price of yarn bundle / packet yarn to protect the country’s weaving industry.

He said that to help the weavers, the Bangladesh Weaving Board is implementing a project titled “Provision of working capital and modernization of weaving and micro-credit program for weavers to improve the socio-economic condition of the weavers of the country.” Through the project, loan disbursement activities are going on among the weavers on interest free and low service charges.

Sunbd/NJ