Dhaka: The Cabinet Committee on Economic Affairs (CCEA) today accorded in-principle approval to proposals for selecting private partners to revive and operate the Magura Textile Mill and Darowani Textile Mill in Nilphamari under the Public-Private Partnership (PPP) model. The approvals were given at the 29th CCEA meeting held at the Cabinet Division in the city with Finance Minister Amir Khosru Mahmud Chowdhury in the chair.
According to Bangladesh Sangbad Sangstha, a total of three proposals were placed before the committee, including two proposals from the Ministry of Textiles and Jute concerning the two state-owned textile mills under the Bangladesh Textile Mills Corporation (BTMC). The committee reviewed the final contracts for selecting private partners for the revival and operation of the mills and gave in-principle approval to facilitate the resumption of industrial activities at the closed facilities through the PPP model.
The move is expected to enable private sector participation in the management and modernization of the mills while bringing the state-owned industrial assets back into productive operation.