Home / Knowledge / News / Textiles / Govt to divest stake in state-owned jute mills
Govt to divest stake in state-owned jute mills
Jul '11
Following the Finance Minister's approval, the Bangladesh Government is to soon divest at least 49 percent share in each of all the 26 state-run jute mills.

As per the provisions laid down by the Government, the process of offloading in the capital market must be concluded within a year. Presently, these mills are run by Bangladesh Jute Mills Corporation (BJMC).

As a part of its focus on improving working of these mills and to make them economically sound, the Government had appointed a Committee led by the Finance Secretary to carry out a comprehensive study of the condition of the jute mills.

The five-point recommendations tabled by the Committee included a suggestion of divesting 49 percent stake in each of the state-owned jute mills.

The Government has also resolved to convert BJMC into a 'holding company', in order to save these mills from incurring monetary losses.

Post-Independence, the Bangladesh Government nationalized 79 jute mills, but 52 of these mills were later sold out to private companies.

Official figures since nationalization up to June 30, 2009 reveal that the state-owned mills operating under the BJMC have jointly incurred losses to the tune of Tk 48.21 billion.

Fibre2fashion News Desk - India

Must ReadView All

Courtesy: Reliance Industries

Textiles | On 24th Apr 2017

Reliance’s FY17 revenue from petrochemicals up 12.2%

Increase in prices across polymers and polyester chain has...

Textiles | On 24th Apr 2017

India, Kazakhstan to increase cooperation in textiles

Indian and Kazakhstan are deliberating upon increasing cooperation in ...

Textiles | On 24th Apr 2017

GST reflects 'One nation, One aspiration' spirit: Modi

Prime Minister Narendra Modi has said that the Goods and Services Tax ...

Interviews View All

Jurgen Gauger

‘Buying crowdsourced or creative designs are much more appealing to the...

Smarth Bansal
Colorjet India Limited

We would like to venture more companies into the Indian market

Angelina Francesca Cheang

'Consumers in the age-group 21 to 38 are driving the activewear trend'

Urs Stalder
Sanitized AG

Urs Stalder, CEO, Sanitized AG, talks about the increasing use of hygiene...

Silke Brand-Kirsch
Schlegel und Partner

Silke Brand-Kirsch, executive partner of Schlegel und Partner, a leading...

Giorgio Mantovani
Corman S.p.A

Giorgio Mantovani, MD of Corman, with a presence in both Milano and New...

Madhu Jain
Madhu Jain

She grew up in the walled city of Old Delhi, completed her studies, and...

Pranav Mishra

Designers Pranav Mishra and Shyma Shetty’s Huemn is known for its...

Karan Arora
Karan Arora

Bridal couture created with rich Indian heritage, exquisite craftsmanship...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


Letter To Editor

(Max. 8000 char.)

Search Companies

April 2017

April 2017

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.


Browse Our Archives


E-News Insight
Subscribe Today and Get the
Latest News Update in Your Mail Box.
Advanced Search