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

Courtesy: EVG photos from Pexels

Apparel/Garments | On 16th Aug 2018

Bangladesh ups garment export target to $32.689 bn

The Government of Bangladesh has increased the country’s readymade...

Courtesy: PR Newswire

Apparel/Garments | On 16th Aug 2018

Shoppers go to stores for thrifting experiences: Survey

Despite growth in e-commerce, shoppers still head to retail stores...

Pak ministry invests in training textile sector workers

Textiles | On 16th Aug 2018

Pak ministry invests in training textile sector workers

Pakistan’s ministry of commerce and textile industry is offering...

Interviews View All

Frank Gossmann
Rotorcraft AG

‘RT3 motto is: Do not check millimetres, check colours.’

Sonia Agarwal
Whitenife

‘The terms eco-friendly and organic are common but everyone perceives them ...

Luke Otten
Wigwam Mills Inc

Wigwam aims to recycle discarded yarn that doesn’t make it through the...

Umang Banthia

Established in 2005, SL Banthia Textiles manufactures coated fabrics....

Deepprakash Agrawal

Radhey Weaves is a Surat-based manufacturer of brocade fabrics. MD...

Abhishek Dhanuka

Vyom International Pvt Ltd, established in 2002, is one of Surat's leading ...

Eamonn Tighe
Nature Works LLC

Eamonn Tighe, Fibres and Nonwovens - Business Development Manager of...

Mr Ambrose Chan
DSG International (Thailand) PLC

Lynda Kelly
Suominen Corporation

Suominen Corporation is a manufacturer of nonwovens as roll goods for...

Yash P. Kotak
Bombay Hemp Company

One of the directors of Bombay Hemp Company, Yash P. Kotak, speaks to...

Jay Ramrakhiani
Occasions Elegance Wear

It is believed that by early 19th century, Varanasi weavers had moved away ...

Varsha Wadhwa
VW

Coming from a family that ran a business of jute and linen mills since...

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


August 2018

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

news category


Related Categories:

Advanced Search