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

ITC, ICS tie up to help Moroccan textile value chain

Textiles | On 21st Apr 2018

ITC, ICS tie up to help Moroccan textile value chain

The International Trade Centre (ITC) has partnered with ICS, which...

Bangladesh garment manufacturers call for fair pricing

Apparel/Garments | On 21st Apr 2018

Bangladesh garment manufacturers call for fair pricing

Bangladesh garment manufacturers want a ‘commensurate adjustment’ by...

Pak ministry proposes extension to PM package for 2018-19

Textiles | On 21st Apr 2018

Pak ministry proposes extension to PM package for 2018-19

Pakistani textile ministry has reportedly proposed extending the...

Interviews View All

Anavila Misra
Anavila Collection

Fashion shows are also encouraging and highlighting sustainable fashion

Binoy Ravjani
Hero's Fashion

‘One of the recent trends in hand block printing is the indigo process,...

Dharmendra Shah
Ozone PB Spintex Limited

‘We have made huge investments to ensure quality yarn production.’

Ravindra Jain, Ashish Baid

Oswal Prints Private Limited has been manufacturing and exporting ethnic...

Abhishek Pachauri

Reckon Industries adapts latest systems for manufacturing from designing...

Rikesh Mistry

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

Mohammad Hassan
Biax Fiberfilm

About one in every 20 patients picks up an infection while hospitalised....

Urs Stalder
Sanitized AG

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

Eric Scholler
Groz-Beckert

The Indian market has huge potential in technical textiles, and by far,...

Amiben Shroff
Shrujan

From its modest beginning in the late 1960s, Shrujan has grown into a...

Prathyusha Garimella
Prathyusha Garimella

Hyderabad-based designer <b>Prathyusha Garimella</b> is known for blending ...

Anisha Chaudhari
Threads & Shirts

Threads &amp; Shirts is a freshly-tailored concept providing men/women a...

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

Leave your Comments


April 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
69.9%
No
12.6%
Skip
17.5%

Total Votes: 103

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
63.1%
No
29.1%
Skip
7.8%

Total Votes: 103

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
87.4%
No
8.7%
Skip
3.9%

Total Votes: 103

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
7.8%
Skip
9.7%

Total Votes: 103


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