Dhaka, June 21 -- The Bangladesh Textile Mills Association (BTMA) on Saturday urged the government to retain the existing 30 per cent value-addition requirement for the country's readymade garment (RMG) sector, opposing a budget proposal to withdraw the condition for importing raw materials against bank guarantees.

"If the existing 30 per cent value-addition condition is withdrawn for the import of raw materials against bank guarantees, the risk of misuse of bonded facilities, irregularities and unfair competition in the market will increase," BTMA President Showkat Aziz Russell said.

He made the remarks while addressing a post-budget press conference at Gulshan Club in the capital.

Mr Russell said retaining the condition was crucial f...