Textile millers have urged the government to provide low-interest bank loans to cover wages and utility bills for July, aiming to offset losses incurred during a two-week economic disruption caused by a student movement.

The Bangladesh Textile Mills Association (BTMA) has also requested that commercial banks release their accepted or matured bills against back-to-back letters of credit (L/Cs) for yarn and fabric to ready-made garment (RMG) exporters.

In a letter to the finance minister on Wednesday, BTMA President Mohammad Ali Khokon emphasized that receiving these bills would alleviate the working capital shortfalls faced by member mills.

Khokon detailed that the recent market shutdown has hindered the timely collection of raw materials and the sale of products. Many export-oriented mills struggled with supply delays, and numerous mills have had to close due to the unstable conditions, putting them in severe financial distress.

The textile sector is facing difficulties due to order cancellations, production halts, worker absences, and disrupted raw material supplies, Khokon noted.

He expressed concern about meeting July wage payments and is requesting bank loans at a 2.0 percent interest rate for one year to address both wages and utility bills.

Additionally, Khokon demanded the same loan terms to cover gas and electricity bills.

He also sought the finance ministry’s intervention to ensure the central bank suspends term-loan repayments for six months, with interest-free repayments for the following six months.