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'Crisis in jute sector is passing phase' – BJMC
16
Feb '09
The jute industry in Bangladesh has been going through a period of acute crisis, since the last few years, some due to government apathy and the rest man-made. The jute sector which was once the bulwark of the economy is just a midget of its original self.

According to sources, seven state owned jute mills in the Khulna-Jessore belt are on the verge of closing down, due to acute financial problems. Production in a few other state owned jute mills has been suspended due to paucity of raw materials.

A few of the jute mills have also accrued wages payable to workers, since a few months, which adds to the already existing other problems faced by the industry. Experts opine that if fresh funds are not infused in to these units, they may face a sad demise.

Fibre2fashion spoke to official sources in the Bangladesh Jute Mills Corporation (BJMC), who said that, yes; there is a shortage of funds and raw jute which is a matter of concern for the jute sector. They have already approached the Govt to give financial support to different jute mills.

He added by saying that, every year, government provides financial assistance to jute sector and this year too, it is likely to fund the sector. This period is a passing phase and will improve with time.

The official sources however, explained that, so far no mills are facing closure due to fund crisis, though off course they are not running at 100 percent capacity, but situation will return to normal conditions very soon.

Fibre2fashion News Desk - India


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