Interested investors can view the shuttered jute mills

August 15, 2020 0 By admin

Investors interested in taking up the recently shuttered state-owned 25 jute mills will be able to see the condition of the factories and other properties in the next one week, said the Ministry of Textiles and Jute in a statement yesterday.

The government closed the mills, employing 24,886 permanent workers and a large number of casual workers, from 1 July to bring an end to continuing losses resulting from use of decades-old machinery, corruption, mismanagement and operational costs racking up higher than those in the private sector.

The government allocated Tk 5,000 crore giving the golden handshake to the workers.

Since making the closure declaration, the government has been maintaining that it would give the factories, which were nationalised in 1972, a new lease on life under either public-private partnerships, government-to-government initiatives, joint ventures or lease basis.