FROM PAGE B4

However, Uddin remains optimistic about the industry’s future. He believes that overall demand for natural rubber will rise as the economy grows.

Additionally, he expects Gazi Tyre to resume purchasing at previous levels once a new factory is operational. He mentioned that the other big player in the market, Meghna Group, which produces bicycles, was unaffected.

“Currently, there are only two major consumers of rubber in Bangladesh, making the industry highly dependent on their operations. Once both are back in full production, we will see positive changes,” he added.

Mustafizur Rahman, assistant general manager (commercial marketing) of Gazi Tyre, said they were currently processing rubber on a limited scale for future use.

He added that they were aiming to resume production by August.

“We are currently preserving processed rubber and will start production once our financiers approve refinancing,” he said.

If banks approve loans to reestablish the tyre factory, it will take a maximum of four months to restart operations, Rahman said.