Home / Knowledge / News / Textiles / Commission vouches privatization of loss making state-owned textile units
Commission vouches privatization of loss making state-owned textile units
17
Aug '11
Thirty four government-owned companies which operate under the aegis of the Ministry of Textiles and Jute have accumulated huge losses over a period of time. Altogether the ministry manages 39 enterprises.

The cumulative loss of these 34 enterprises is around Tk 30.34 billion, with liabilities totaling to a massive Tk 43.05 billion. This was revealed in a report tabled by the Privatization Commission chaired by Mr Mirza Jalil.

Revealing details to fibre2fashion, Mr Jalil said, “It is a matter of details. Since the time they were set up, they have not been working as per expectations. So, we will provide them support, so that they can run it very well.

“Secondly, there are 39 state-owned enterprises under the Ministry of Jute and Textiles. We did an economic survey to know the economic, running, business, financial, investment and labour employment status, etc, in order to get a first-hand impression of the condition of these enterprises.

“We have suggested the ministry to sell and privatize these enterprises, for which a discussion is underway with the ministry and we hope to sort out the matter at the earliest. We have also sent this report to the honorable Prime Minister, Finance Minister, Industry Minster and the Jute and Textile Minister, in order that, they may take the right decision.

“Secondly after liberation in 1975, there were industries which belonged to people from Pakistan. After they left, they were handed over to government corporations and individual people to run it.

“However now, there are a number of industries which nobody is looking after. The Commission is gathering data on their current status in order that we may get them started in which ever way possible”, he concluded by saying.

Fibre2fashion News Desk - India


Must ReadView All

Europe fights against microplastic release from textiles

Textiles | On 18th Jan 2018

Europe fights against microplastic release from textiles

The European Commission, the institution of the European Union, has...

Egypt starts building biggest textile city in Al-Sadat

Textiles | On 18th Jan 2018

Egypt starts building biggest textile city in Al-Sadat

Egypt has started construction of the biggest city for textiles and...

Vietnam targets $20 bn from export of footwear, bags

Apparel/Garments | On 18th Jan 2018

Vietnam targets $20 bn from export of footwear, bags

Vietnam targets to earn around $20 billion from the export of...

Interviews View All

Sunil Kumar Sharma
Loknayak JPNSSSG Ltd

'The blend of cotton–linen yarn has high demand in the domestic and...

Karan Suratwala
Key Textile Accessories Private Limited

Chinese imports are destroying the supply chain

Amit Jain
Shingora Textiles Ltd

‘In terms of fabric, the fastest growing category for us is a blend of...

Rikesh Mistry

Jupiter Comtex Pvt Ltd, established in 1973, started its textile machinery ...

Harmeet Singh

New Delhi-based Jogindra Industries Private Limited provides an assortment ...

Riddhi Jain

Conceived in Europe and curated in New Delhi, NeceSera is a...

Eamonn Tighe
Nature Works LLC

Eamonn Tighe, Fibres and Nonwovens - Business Development Manager of...

Johan Berlin
InvestKonsult Sweden AB

Investkonsult Sweden AB has been buying and selling second-hand textile...

Kai Poehler
Voith Paper GmbH & Co. KG

The glass mat industry is growing by five to eight per cent annually. Kai...

Nisha Chanda
Whistling Woods International School of Fashion

<div>A lack of upgraded courses in costume designing and fashion as per...

Pranav Mishra
Huemn

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

Ritu Kumar
Label Ritu Kumar

‘Classics will return’ "There are a lot of people wearing western clothes ...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH

January 2018

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

news category


Related Categories:

Planning to Take the Leap towards
Sustainability?

Do you see sustainability as a route to business growth?

Yes No

Do you think the sustainability space has the needed tools and resources available for a business to lead change?

Yes No

Active Poll

Do you see sustainability as a route to business growth?

Yes
69.1%
No
13.4%
Skip
17.5%

Total Votes: 97

Do you think adopting a sustainable approach will be a profitable move for your business?

Yes No

Active Poll

Do you think the sustainability space has the needed tools and resources available for a business to lead change?

Yes
63.9%
No
28.9%
Skip
7.2%

Total Votes: 97

Do you want the world to know about your sustainability journey and your business’ environmental footprint?

Yes No

Active Poll

Do you think adopting a sustainable approach will be a profitable move for your business?

Yes
87.6%
No
9.3%
Skip
3.1%

Total Votes: 97

Thanks for your valuable feedback. Claim your free latest sustainability e-book.

Active Poll

Do you want the world to know about your sustainability journey and your business’ environmental footprint?

Yes
82.5%
No
8.2%
Skip
9.3%

Total Votes: 97


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