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Bangladesh Opens 4 Jute Factories To Promote Industrial Development

2010/9/3 17:58:00 74

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The government of Bangladesh took positive action to restart the 4 jute factories that had been closed in September this year. The aim is to promote the jute industry. In the last financial year, the jute industry in Bangladesh witnessed a bright growth prospect.

The four jute factories are: Qaumi of sin JJG.

jute

The factory, the MM jute factory in Chittagong, the jute plant of the people's jute plant and the Daulatpur jute plant in Qurna, the four jute projects will be operated under the national Bangladesh Jute Industry Corporation (BJMC).

Abdullah, the textile and jute Minister of Bangladesh, told the Daily Star daily in August 25th that "the Ministry of finance has agreed to provide 4 billion 330 million Tucca funds to reopen these factories at our request.

We will get the money before the Ramadan Festival. "

These factories were leased early.

private sector

The takeover process has been completed, said Mr Di, and we can start these factories in September.

Officials from the Bangladesh jute industry company said that these factories will produce 12000 direct employees, an annual increase of 30000 tons of jute products, and the production of Bangladesh jute Industrial Company's current output is about 150 thousand tons.

There are 24 jute factories in Bangladesh jute industry, of which 16 are currently in operation.

The reopening of 4 closed jute factories is a guarantee for the current government election, which is expected to boost local industries and generate more jobs.

In this regard, the Bangladesh government has provided various forms of mechanisms, including relaxation of bank lending conditions for jute factories, both in the public and private sectors, which will lead to growth in production and export revenues.

In the last financial year,

The Bengal tiger

The average daily output of jute mills in jute industry increased to about 500 tons, while the average daily production in the last fiscal year was about 300 tons, according to officials from Bangladesh jute industry.

In the last fiscal year, Bangladesh earned $736 million 440 thousand through exports of jute and jute products, which is 76.43% higher than the 2008-09 fiscal year, Bangladesh's export promotion agency said.

The 4 billion 330 million Tucca will be provided by the Ministry of finance, which will be used for overhaul machinery and some infrastructure, to pay debts to suppliers of raw materials, as well as liquidity.

An official from the Bangladesh jute industry company said the money will be provided immediately because the peak season for jute is under way.

If we cannot purchase quality jute immediately, it will not be possible to reopen these jute works.

The demand for jute products is on the rise. If the mandatory jute utilization policy of grain is effectively implemented, the demand will be even higher.

To meet the domestic and international market demand, the fund should be allocated immediately, the official said.