The privatization process of 11 state-owned textile and jute sector mills, which was proposed by the Advisory Council Committee of the Jute and Textile Ministry in December 2008, has gathered steam.
The Privatization Commission (PC) has requested for an approval from the Cabinet Committee on Economic Affairs for divesting stake in the 11 state-owned textile and jute manufacturing units.
Amongst the textile units are mills operated by the Bangladesh Textile Mills Corporation; Ahmed Baowani Textile Mills, Sylhet Textile Mills, Kurigram Textile Mills, Daroani Textile Mills, Bhalika Woolen Mills and Kaderia Textile Mills.
Three other factories to be privatized which are currently managed by Bangladesh Jute Mills Corporation (BJMC) are Bagdad-Dhaka Carpet Factory, Doulatpur Jute Mills and Quami Jute Mills.
Fibre2fashion News Desk - India