Commerce, Industries and Textiles and Jute Minister Khandakar Abdul Muktadir announced that the government will facilitate the private sector to encourage fresh investments and accelerate employment generation across the country. He emphasized that private entrepreneurs generally demonstrate greater efficiency in management and production compared to government-run business entities. The minister made these remarks while addressing an agreement signing ceremony at the Ministry of Textiles and Jute in Dhaka.
Lease Agreement for Jute Mills
On this occasion, a lease agreement was signed between the Bangladesh Jute Mills Corporation (BJMC) and Bangladesh Jute Alliance Limited for leasing 14.80 acres of land in Narsingdi. This agreement is part of a broader initiative to lease 20 of the 25 closed BJMC mills, with 14 lease agreements already signed.
Reviving Industrial Production
State Minister for Textiles and Jute Md Shariful Alam highlighted that the government's objective is to ensure the maximum and effective use of state resources by attracting private investment to the closed BJMC mills and reviving industrial production. Nine of the leased mills have already resumed production, creating employment for around 9,500 people and producing nearly 160 metric tonnes of jute products daily.
Additional Investment and Employment
Bangladesh Jute Alliance Limited, which had earlier leased 34.50 acres of land and created employment for about 3,200 people, will now invest an additional Tk 1,050 crore under the new lease agreement. This new investment is expected to generate annual production worth around Tk 3,000 crore and create employment opportunities for another 3,000 people.
Significance and Future Prospects
The state minister emphasized that such investments would play a significant role in accelerating industrialization, boosting exports, and generating employment in line with the government's development goals. The presence of Cabinet Secretary Dr Nasimul Gani, Finance Secretary Dr. Khairuzzaman Chowdhury, and senior officials of the Ministry of Textiles and Jute at the event underscored the importance of these initiatives.
