Some also pointed out that the state-owned jute mills were mired in ‘corruption' and 'profligacy' alongside ageing infrastructure. Under the circumstances, it is doubtful that the private sector could suddenly step in and reverse the rut. The 26 jute mills under the Bangladesh Jute Mills Corporation have been incurring losses for years, turning profits in just four of the last 44 years. Textiles and Jute Minister Golam Dastagir Gazi is hopeful that the state-owned jute mills will be up and running soon with modern equipment under the PPP model. Earlier, the jute mills were privatised under the condition that they can produce only jute products.

Source: bd News24 July 05, 2020 09:00 UTC