Government wants to increase employment by reopening closed jute mills

The government wants to create new employment by reopening closed mills. Textiles, Jute and Commerce Minister Khandaker Abdul Muktadir said that there are plans to transfer several more state-owned institutions to the private sector this year.

He said these things at an agreement signing ceremony organized on Thursday morning to reopen closed jute mills.

The minister said that state assets that have been idle for a long time have now become a liability for the government. The government is working to make these assets productive and profitable again. For this reason, the private sector has been called upon to come forward for new investments.

He also said that the government is ready to provide necessary support to investors.

Regarding the decline in ready-made garment exports, the minister said that exports have not achieved the desired pace due to the war situation and global business slowdown. Besides, the tariff policy of the United States is also affecting Bangladesh's garment exports. However, he expressed hope that garment exports will increase again once the global crisis subsides.

An agreement was signed between TK Group and the government at the event. According to the agreement, 14.80 acres of land of Bangladesh Jute Mills in Narsingdi has been leased to TK Group.

TK Group will invest Tk 1,500 crore in this project. It is said that this will create employment opportunities for about 3,000 people.