"Bangladesh decides to shut loss-making state-run jute mills

Jun 29, 2020

National
"Bangladesh decides to shut loss-making state-run jute mills

Dhaka (Bangladesh), June 29: The Bangladeshi government has decided to close all the country's 22 old-fashioned loss-making jute mills, laying off nearly 25,000 workers and employees.
Bangladeshi Textiles and Jute Minister Golam Dastagir Gazi made the announcement at a press briefing Sunday in capital Dhaka.
The decision was made as the losses incurred by the mills every year are due to extremely old machinery, said the ministry in a statement later in the day.
It said the mills are run with machinery that dates back 50 to 60 years.
According to the minister, however, the mills will be reopened after modernization under Public-Private Partnership, joint venture or lease process while laid off workers will be prioritised in case of fresh employment.
Source: Xinhua News Agency