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Related Keywords: balancing, Bangladesh government, China Textile Engineering Corporation, Chinese funding. state-owned jute mills, expanding jute mills, feasibility study on jute mills, global jute industry, lag in technology, losing leading position, loss making units, low efficiency, modernizing, obsolete equipment, rehabilitating, take up project

The Bangladesh government has decided to take up a project worth $350 million or Tk 2,800 crore for balancing, modernizing, rehabilitating and expanding the jute mills, with Chinese funding. As the state-owned jute mills have been loss-making units for several years now, and in the last fiscal year their losses amounted to Tk 588 crore.

Related Keywords: allay security concern, Bangladesh government, brief businessmen on measures taken, export earning of Bangladesh, foreign companies invited, hold investor meeting, international businees community, key contributor, textile sector, win back confidence

The Bangladesh government subsequent to the terror attack that killed 20 people, mostly foreigners, in a Dhaka restaurant on 1 July has decided to hold an investor meeting next week to allay the international business community's security concerns where they shall brief the companies and the businessmen about the measures taken to answer all their security related queries, said Gowher Rizvi, senior adviser on foreign affairs to Prime Minister Sheikh Hasina.

Related Keywords: a major destination of locally grown, are given tax benefits, Bangladesh government, Bangladesh Jute spinners association, enjoy source tax, Export Promotion Bureau, facing sluggish demand abroad, Jute Industry, processed natural fibre, prolonged crisis in the Middle East, support jute goods exporters

The Bangladesh government to support jute goods exporters and the industry that has been facing sluggish demand abroad are given tax benefits. The move comes at a time when the jute industry has been suffering sluggish demand for sacks, bags and yarn, owing mainly to the prolonged crisis in the Middle East, a major destination of locally grown and processed natural fibre.

Related Keywords: adequate supply of fibre in domestic market, ban is withdrawn, Bangladesh government, considering lifting ban on raw jute export, local supply will not be affected, Mandatory Jute Packaging Law, meet local demand, millers need a large volume of raw materials, raw jute prices will go up, restriction will go from first week of April

Bangladesh government is actively considering lifting its ban on raw jute export due to adequate supply of the fibre in domestic market. Hopefully, the restriction will go from the first week of April, said Joint secretary of the Ministry of Textiles and Jute (MoTJ) Nasima Begum.

However, private jute millers expressed their concern over the fresh move of the government to withdraw the export ban as they will face difficulties to meet the local demand. They said that the raw jute prices will go up if ban is withdrawn.

Related Keywords: against letter of credit, Bangladesh government, current fiscal, decision to give permission, ensure jute bags used in packaging of various goods, export raw jute, forty one organizations, indefinite ban was imposed, India and Pakistan main importers, low yield of jute, production is likely to drop, special measure, Textile and jute ministry

The Bangladesh government has taken decision to give permission to 41 organization to export 277,000 bales of raw jute against the 251 letters of credit issued before Nov 3 last year as a special measure, this was informed by Saikat Chandra Halder, PRO of the textile and jute ministry on Wednesday.

The government on Dec 3 last year banned the export of raw jute for an indefinite period to ensure that jute bags were used in the packaging of various goods. Following appeals from jute exporters, permission has been granted to 41 organisations to export raw jute.

Related Keywords: aiming to implement MJPL, Bangladesh government, BJMA, BJMC, BJSA, consider employment, impose a month long ban, jute production, MOTJ, prevent smuggling, raw jute export

Bangladesh Jute Mills Corporation (BJMC), Bangladesh Jute Spinners Association (BJSA) and Bangladesh Jute Mills Association (BJMA) hailed the government decision for imposing a month-long ban on raw jute export aiming to make the implementation of the Mandatory Use of Jute Product Labeling Law (MJPL) 2010 a success.

The ban has been slapped to increase supply of the fibre for local jute bag and sack-makers, an official at the Ministry of Textile and Jute (MoTJ) said.

Related Keywords: . Major garments exported include knitted and woven, apparel sector, Bangladesh government, Bangladeshi textile and garment manufacturing sector, jackets, jute exports, Md Emaz Uddin Pramanik, set a target to earn foreign currency, shirts and blouses, shorts, skirts, sweaters and sportswear, Textile and Jute Minister, trousers

Bangladesh government has set a target to earn foreign currency of $28,447.57m in the current fiscal year of 2015-16 after its textile sector earned foreign currency of $128,203.71 million in the six fiscal years since 2009-10, according to the statistics placed in the Parliament by Textile and Jute Minister Md Emaz Uddin Pramanik yesterday.

The textile sector earned foreign currency of $26,509.77m in FY2014-15, $25,508.77m in FY2013-14, $22,556.73m in FY2012-13, $21,496.57m in FY2011-12, $19,002.78m in FY2010-11 and $13,129.09m in FY2009-10.

Related Keywords: additonal incentives cut, Bangalesh Bank, Bangladesh government, central bank issued circular, fourteen sectors including apparel, incentives reduced on finished jute producs, jute yarn, rate unchanged for new products in apparel sector, reworked on cash incentive rate, to encourage exports

The Bangladesh government has reworked on cash incentive rate for 14 sectors including apparel to encourage exports during the current fiscal year. The central bank issued a circular to this effect on Monday. According to Bangladesh Bank, exporters were given Tk 34 billion in cash incentive in the just concluded 2014-15 FY.

The circular states that incentives have reduced on finished jute products from 10 percent to 7.5 percent, on jute yarn from 7.5 percent to 5 percent and in case of leather goods from 15 percent to 12.5 percent.

Related Keywords: Bangladesh Garment Manufacturers and Exporters Association, Bangladesh government, BKMEA, BTMA, Export Promotion Bureau, held meeting with, home textile., inclusion of RMG in traditional category, jute, jute goods (Hessian, Knitwear, redefine export oriented goods, RMG products including oven, Sacking and CBC), traditional and non traditional

Bangladesh government to boost exports has decided to redefine export-oriented traditional and non-traditional products as the contribution of the traditional products to the export basket has plunge to 2.74% in the last fiscal year, while the contribution of non-traditional products raise to 97.26%.

Export Promotion Bureau (EPB) sources said that the recently the Prime Minister Office (PMO) in a letter directed the Export Promotion Bureau (EPB) to redefine export-oriented traditional and non-traditional products to accelerate export growth.

Related Keywords: attract new investment, Bangladesh government, development in local, double existing production, drafted textile policy 2014, existing textile policy failed, export oriented garment sector, Global textile market, high value added products, new policy initiated, raise domestic production, use modern technology

The Bangladesh government has drafted the 'Textile Policy 2014’, the move to prepare a new policy was initiated as the existing textile policy of 1995 has failed to address the developments in local as well as global textile market, officials said.

The new textile policy drafted plans to raise the domestic production to 14,036 metres by the fiscal year 2019-20 that is double the existing local textile production.