Loss-making jute mills to be privatised

Bangladesh will privatise all loss-making state-run jute mills in phases, said a draft jute policy-2008 discussed at a workshop.

Jute and Textile Adviser Anwarul Iqbal opened the workshop at the International Jute Study Group office recently that saw participation from jute experts, private mill owners and farmers.“Efforts are underway to revive the past glory of jute,” assured the adviser. Jute is environment-friendly and has a huge demand across the world.

The draft policy envisages incentives to jute growers in the form of easy loan, improved seeds and necessary inputs for intensive cultivation. This is intended to reduce the cost of jute production. Besides, interests of workers of the offloaded mills will be protected.

The adviser assured that an investigation committee would be formed soon to probe into alleged corruption and mismanagement and closer of state-run jute mills. The world’s largest jute mill, Adamjee Jute Mills, that had earned fame and huge foreign exchange was closed down under the pressure of donors when it incurred heavy loss.

The draft policy also envisages promotion of extensive research in jute for multipurpose use of the golden fire.

Iqbal informed the workshop that cultivation of jute and production in Bangladesh had declined. He estimated the last year’s production at around 5.5mn bales as against 7mn bales in 1960s. Laying significance of jute a recent UNCTAD report said $1 earned from jute sector is equivalent to $4 earned from readymade garments.

PSC member A Dhaka court has sentenced a former member of the Public Service Commission (PSC) to 13 years imprisonment for illegally amassing wealth and concealing wealth information from the Anti-Corruption Commission (ACC).

The court also fined Prof Md Mahfuzur Rahman 5mn taka. Judge AKM Arifur Rahman of the Special Court-10, located in the parliament secretariat complex, handed down the sentence.

Authorities have so far been unable to track down Mahfuzur and his punishment will come into effect from the day he surrenders or is arrested.

The sentence comprises two terms of three and ten years for concealing information a wealth statement to the ACC and amassing illegal wealth respectively. The jail terms are to run consecutively.