Home / Knowledge / News / Textiles / BJMC ponders over privatization of jute mills
BJMC ponders over privatization of jute mills
13
Feb '08
The Bangladesh Jute Mills Corporation (BJMC), world's biggest state owned manufacturing and exporting organization of Jute products, is facing huge losses these days. Instead of making profits, the organisation, resulting shut downs, is leaving its workers jobless.

As a result BJMC, has decided upon privatization of mills and use the capital to pay its liabilities. Earlier, it had invited tenders to lease out 7 jute mills out of 18. But found only two tenders appropriate for giving the operational responsibilities.

However, yesterday, the Advisory Committee on Economic Affairs, rejected the proposition of privatization of its two mills, Peoples Jute Mills and Qaumi Jute Mills.

BJMC received the proposal of Tk6.13 crore annual fee for Peoples Jute Mills and Tk4.81 crore for Qaumi Jute Mills from two local firms.

According to sources, the leasing proposal was turned down as BJMC needs to review the policy further, due to certain obstructions in the procedure.

Must ReadView All

Apparel/Garments | On 25th May 2017

AAFA reinforces opposition to Border Adjustment Tax

The American Apparel & Footwear Association (AAFA) has reinforced its ...

Textiles | On 25th May 2017

Schlafhorst launches 2.5 millionth Autoconer unit

Schlafhorst, Germany’s leading textile machinery firm, has announced...

Textiles | On 25th May 2017

Mexican textile firm installs Monforts Montex 6500 stenter

Tizayuca Textil Vuva SA de CV, a vertically integrated producer of...

Interviews View All

Cyril Pereira
Reed Exhibitions India, organiser of Asian Machine Tool Exhibition 2016

'Major problem in the textile machinery manufacturing industry is the lack ...

Jim Desai
Blaiva Fabricaa

Fashion industry likely to remain labour-intensive in coming years

Viral Desai
Zenitex Mill Pvt Ltd

Full of green energy

Marten Alkhagen
Swerea IVF AB

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

Johan Berlin
InvestKonsult Sweden AB

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

Larry L Kinn
Suominen Corporation

Larry L Kinn, Senior Vice President - Operations Americas of Suominen...

Madhu Jain
Madhu Jain

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

Tony Ward
Tony Ward

"You have to truly understand what your client wants, know her needs, what ...

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

news category


Related Categories:
May 2017

May 2017

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

SUBSCRIBE


Browse Our Archives

GO


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