New programme to be taken up to rejuvenate BTMC mills****

FE Team | Published: May 19, 2011 00:00:00 | Updated: February 01, 2018 00:00:00

Md Mazadul Hoque
Bangladesh Textile Mills Corporation (BTMC) is going to take up a new programme to make textile mills profitable and to save foreign currency by supplying quality yarn domestically, a high official said. "As the textile sector in the country greatly accounts for diversification of export products and creation of jobs it can greatly contribute to the economy of the country", the official told the FE. The official said out of 15 textile mills which are operated by BTMC, only eight units are now in production which do not fulfil the country's demand. The official said to overcome the loss of production in the mills due to frequent power failure, the mills will be provided with own power generation system. The official said now all the BTMC mills are facing acute problems due to outdated machinery, shortage of working capital and low-quality products. Considering the situation, the government is going to take some measures to rejuvenate the ailing mills. The official said the vacant land of BTMC head office will be utilised by erecting a 20-storied building at a cost of Tk 340 million and after implementation of this project it will help increase the earning of BTMC. The official also said a piece of 4.25-acre land at hatkhola road in Dhaka city and another piece of 0.44-acre land at Reazuddin in Chittagong city, owned by BTMC, will be utilised by a developer to build commercial and residential units on these unused lands located in prince commercial areas of the two cities. A fund will be created by selling excess 50.70 acres of land of six BTMC mills, which will help make up the loss of other mills , the official said. A pilot project for cultivation of cotton in Kushtia, Jessore, Rangpur, Dinajpur, Thakurgaon, Panchagarh, Comilla and Chittagong Hill Tracts will be undertaken to reduce dependence on import of raw cotton. Cotton Development Board under the agriculture ministry will take necessary measures in this connection, the official said. An area of 25.63-acre land will be used for establishing 'Khulna Textile Polli' that will help create mostly local employments and will contribute to the development of socio-economic condition of the locality, the official said. In order to meet the ever increasing demand of yarn in local market, closed BTMC mills will be reopened with replacing of old machinery, which will help increase production of the mills, the official said. The new programme will help bring about improvement in the life style of the people who are directly linked with the BTMC mills and the programme will help BTMC attain self sufficiency financially, the official said. On the other hand, the government will be relieved of providing financial support to BTMC to meet its essential expenditure and this will also contribute to poverty alleviation, job creation and women empowerment, the official said further.