Dhaka:Production has resumed at nine of the 17 jute mills operated by the Bangladesh Jute Mills Corporation (BJMC) that have been leased to private entities. This development has created employment for approximately 9,500 individuals.
According to Bangladesh Sangbad Sangstha, preparations are underway to reopen the remaining eight mills and fully operationalize these nine, which is expected to generate nearly 50,000 jobs. This initiative follows the government's commitment to increasing employment, attracting investment, and ensuring the effective use of idle assets as part of its election promises.
Additionally, the process to lease three more BJMC mills to private management is ongoing. These include MM Jute Mill in Sitakunda, Chattogram; KFD Ltd. in Rangunia; and Cooperative Jute Mill in Palash, Narsingdi. The government aims to stimulate economic activity by leasing the mills through transparent tenders under a public-private partnership (PPP) framework, appealing to both domestic and foreign investors.
The initiative to reopen these mills comes after their closure on July 1, 2020, due to consistent losses and competitiveness issues. The new government has taken steps to reopen them under private management, focusing on job creation, economic stimulation, and optimal use of assets.
State Minister for Textiles and Jute Md. Shariful Alam stated that these efforts are expected to have a positive impact on the national economy. The government also encourages investment in jute and jute products by providing necessary support, including loan facilities, aiming to expand jute use and reduce reliance on environmentally harmful materials.
The Jute Diversification Promotion Centre (JDPC) is actively working to promote jute products through government incentives, exhibitions, training, and support for market expansion overseas.