A textile mill restarted in August 2010, due to the initiative of the current government in Bangladesh, has within 10 months, started generating profits.
Sundarban Textile Mills was started in 1983 and within 10 years, went on to become one of the most profitable mills in Bangladesh. In 1994, it established another unit. However after a few years, the mill started to incur losses due to mismanagement and wrong decisions.
In 1997, the government decided to run the mill on a job-work basis. The mill continued to run on this model for a period of 10 more years. However, in July 2007, the mill offered voluntary retirement to all its workers.
Restarted, once again in August 2010, the main unit has already started making profits, while the other unit will start generating profits within a few months.
Providing details to fibre2fashion, Mr Abdul Hanan, General Manager - Sundarban Textile Mills said, “The mills were closed down in November 2008 and restarted in August 2010. Before November 2008, the government had given the mills to a contractor to run them according to an agreement, the expiry of which led to the shutting down of the mills”.
He continued by saying, “Now the new government has helped to restart the mills after almost two years, after it closed down. The company owns two mills, one of which is running profitably while the other will be making profits soon. Around 1,000 jobs have been generated by restarting the mills. The mills are owned and run by the government now”.
Fibre2fashion News Desk - India
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