Home / Knowledge / News / Textiles / Bangladesh mulls taking back privatised textile mills
Bangladesh mulls taking back privatised textile mills
05
Jan '12
A Standing Committee of the Bangladesh Ministry of Textiles and Jute (MoTJ) and a Standing Committee in Parliament are studying the case of few textile mills in the country that have changed their business character since they were handed over to private owners around three decades ago.

Among other things, these Committees are also considering whether the Government should take back the ownership of these mills that it had handed over to private players about 30 years back.

Brig. Gen. Mahmud Ul Alam, Chairman, Bangladesh Textile Mills Corporation (BTMC) told fibre2fashion, “When Privatisation started in late 1970s, the Government handed over several textile mills to Bangladeshi citizens who had a share of more than 30 percent, along with all liabilities and debts.”

“A total of 35 textile mills were handed over to the Bangladeshi owners with an understanding that they would run them efficiently. But, today, after a span of 30 years, we find that most of them failed to keep up their commitments. They did not pay the scheduled bank dues and failed to perform other responsibilities. Worst of all, few of them have even changed the character of the mills altogether and are using it for other commercial purposes – some changed the character 100 percent, while some changed it by 70-80 percent,” he informs.

“So now, the Standing Committee in the Parliament and the Standing Committee of the MoTJ have taken note of this matter. They will review the situation both on ground and on paper. They are yet to take any decision on the Government taking back these mills,” he reveals.

Mr. Alam further adds, “The Government's decision is expected to be based on several factors, including the contribution of these textile mills to the economy of the country as a whole, the affect on employment and other aspects.”

Fibre2fashion News Desk - India

Must ReadView All

Textiles | On 20th Jan 2017

TEA expects budget to upscale textile skill industry

The Tiruppur Exporters’ Association (TEA) has requested the Central...

Textiles | On 20th Jan 2017

Bangladesh could earn $60 billion in exports by 2021

Bangladesh is expected to earn over $60 billion in exports by the...

Courtesy: PIB

Textiles | On 20th Jan 2017

Govt to help Tangaliya weavers purchase looms: Irani

Government of India will facilitate Tangaliya weavers in purchase of...

Interviews View All

Saket Garg
Garg Corporation

The biggest challenge is lack of skilled workforce and competition from...

Anshul Sood
Oceedee

‘Indian footwear market is nascent and largely a trend follower’

Binoy Ravjani
Hero's Fashion

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

Mohammad Hassan
Biax Fiberfilm

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

Silke Brand-Kirsch
Schlegel und Partner

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

Marten Alkhagen
Swerea IVF AB

Marten Alkhagen, Senior Scientist - Nonwoven and Technical Textiles of...

Judy Frater
Somaiya Kala Vidya

Among the many honours showered on Frater, including Fulbright and Ford...

Sonam & Paras Modi
SVA

Sonam and Paras Modi's Sva Couture is synonymous with head-turning...

Mike Hoffman
Gildan Activewear SRL

Gildan Activewear, a manufacturer and marketer of branded clothing and...

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 2017

January 2017

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

SUBSCRIBE


Browse Our Archives

GO


eNEWS
Insights
Subscribe today and get the latest News update in your mail box.
Advanced Search