Bangladesh tanners have urged the government to allocate approximately Tk5,000 million ($77 million) to the leather industry to ensure the smooth procurement of hides and skins of the sacrificial animals at the Eid-ul-Azha which takes place in January.

Bangladesh’s leather industry is estimated to collect about 50% of its raw materials at such festivals.

The tanners said that the country would miss out on huge numbers of hides and skins through smuggling if the nationalised commercial banks (NCBs) did not provide them adequate loans in time to secure the material.

General secretary of the Bangladesh Tannery Association, Abdul Hai, claims that the country procured at least 200 million square feet of hides and skins in a year and about 40% of the total skins are purchased during Eid-ul-Azha.

Although the NCBs allocated Tk1,920 million in loans to tannery owners during Eid-ul-Azha last year, many owners said they had faced problems receiving the funds in time to purchase skins and hides.