Home / Knowledge / News / Textiles / Govt likely to float shares of 16 state-run jute mills
Govt likely to float shares of 16 state-run jute mills
08
Jan '11
The government of Bangladesh might float the shares of 16 state-owned jute mills in the share market within a year after making them more productive.

The government discussed about the possibility of making the publicly owned shares of these jute mills available for trading, in a meeting held recently. However, floating of shares would only take place if the mills are generating profit.

The government is putting all its efforts in making the state-owned jute mills financially better off and more productive in terms of their operations.

Measures are on the move to enable the process of regenerating the entire jute sector of the country even including those mills which are under the private sector, as the demand for this eco-friendly natural fibre has experienced a sharp growth in the international market.

The challenges faced by the jute industry and its impending opportunities have also been discussed in the meeting.

The move that is likely to be taken up by the government regarding the 16 state-owned jute mills is a part of its endeavor to divest the shares of around 21 government owned companies.

At present, around 24 jute mills are functioning under the state-owned Bangladesh Jute Mills Corporation (BJMC) but majority of them are economically fragile. The government extends financial assistance of several billions every year to these units which are undergoing financial losses.

Fibre2fashion News Desk - India


Must ReadView All

Textiles | On 27th Jun 2017

Govt defers tax deduction at source provision under GST

E-commerce players in India will not be required to deduct tax on...

Apparel/Garments | On 27th Jun 2017

Future Group aims Rs 12,000 crore in fashion business

Future Group, which runs retail stores across India under various...

Textiles | On 27th Jun 2017

AEPC & NSDL to help exporters with GST compliances

Apparel Export Promotion Council (AEPC) and National Securities...

Interviews View All

Kaizad Hansotia
GetNatty

Competition is the best thing that can happen to a startup

Cindy McNaull
Cordura

We have broad range of options in durable fabrics

Siddharth Biyani
Mangalam Industries Pvt Ltd

‘The manufacturing sector is improving day-by-day, becoming better in...

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...

Kerem Durdag
Biovation II LLC

Kerem Durdag, CEO, Biovation II LLC, provides an insight into future...

Rupa Sood and Sharan Apparao
Nayaab

Nayaab, an exhibition meant to celebrate Indian weaves, is in its second...

Wendell Rodricks
Wendell Rodricks

"We should not compare India and the West. There are things we do that...

Prathyusha Garimella
Prathyusha Garimella

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

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:
July 2017

July 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