इंडियन आवाज़     07 Jul 2020 05:20:47      انڈین آواز

Govt-run jute mills to shut down in Bangladesh


Government of Bangladesh has decided to shut down all the state-run jute mills in the country due to recurring losses and low productivity.

Announcing this the Textile and Jute Minister of Bangladesh Golam Dastagir Gazi said on Sunday that the state owned Bangladesh Jute Mills Corporation (BJMC) will be provided 5000 crore Taka by the government to clear the arrears of workers. The Minister said that the mills will resume work later under the PPP or joint venture model.

Golam Dastagir said that the just mills will be modernized in line with domestic and global demand. He said that the machinery of these mills is 60-70 years old and their production capacity has come down to zero.

The government has announced that 25 thousand jute workers affected by the shut down of factories will be given the benefits of a voluntary retirement scheme.

The Jute industry in Bangladesh is critically dependent upon exports which contributes close to 80 percent of its income. However, in recent times the international market has shrunk due to falling demand in India and Turkey which were its two major markets.

Bangladesh is a major global supplier of Jute products. In volume terms it contributed close to 80 percent of global demand in 2018. On an average, the country produces 1.5 million tonnes of Jute per year with a combined share of above 90 percent of global production.

Leave a Reply

Your email address will not be published. Required fields are marked *


Badminton star Carolina Marin offers her gold medals to medical professionals

Carolina Marin spent lockdown in Huelva with her mother, perhaps the first long spell spent at home since she ...

SPORTS: Foreign and Indian coaches will now have a four-year contract

WEB DESK Foreign and Indian coaches for training Indian Athletes will now have a four-year contract in alig ...



جناح کے دو قومی نظریے کے سخت مخالف تھے عبدالقیوم انصاری

ولادت : یکم جولائی 1905ء ۔ وفات : 18 جنوری 1973ئ مجاہدآزادی عبدال ...

کووڈ-19 کے وبائی دورمیں اردو میڈیا کا صحت مند کردار

قومی اردو کونسل کے زیر اہتمام’وبائی دور میں اردو میڈیا کا کر ...

خواجہ کی شان میں گستاخی : شرم تم کو مگر نہیں آتی

!خواجہ کی شان میں گستاخی تم کو بربادی تک نہ پہنچا دے مولانا ...


India poised to emerge as world’s largest electronics and mobile manufacturing country

AMN India is poised to emerge as the world’s largest electronics and mobile manufacturing country. Union ...

Bill Gates leaves Microsoft

Bill Gates and wife Melinda WEB DESK Microsoft Co-founder Bill Gates has left the Board of directors of ...


All centrally protected monuments open in non- containment zones

AMN Government has decided to open all the Centrally protected monuments by completely abiding with safety ...

Tourism Ministry conducts webinar on ‘Vedic Food and Spices of India’

WEB DESK To showcase the benefits about our country’s ancient form of health science, Tourism Ministry co ...

@Powered By: Logicsart

Do NOT follow this link or you will be banned from the site!