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Related Keywords: Bangladesh Jute Mills Corporation, BJMC, diversification of products, establish jute industrial villages, gives green signal, Jute and textiles ministry, made from the natural fibre, third largest export earning sector

The jute and textiles ministry gives green signal to Bangladesh Jute Mills Corporation (BJMC) to go ahead with the establishment of jute industrial villages on BJMC’s unused lands for the diversification of products made from the natural fibre, officials said.

Mahmudul Hassan, chairman of BJMC, which has 25 state-run mills in operation said that they will take steps and try to complete all the procedures as soon as possible to develop such villages.

Related Keywords: after discussion with Ministry of Textiles and Jute, Bangladesh government, BJA, BJMC, development of jute sector, jute exporters will enjoy block account facilities, outstanding loans, plans to announce a package by this May, proposed package will be finalized, raw jute exporters

Bangladesh government for the development of jute sector plans to announce a package by this May. The proposed package will be finalized after discussion with the Ministry of Textiles and Jute. The jute exporters will enjoy block-account facilities for their outstanding loans, said Finance Minister A M A Muhith at a view exchange meeting with the raw jute exporters. Bangladesh Jute Association (BJA) organised the programme in the capital.

Related Keywords: Bangladesh Ministry of textiles and jute, BJMC, for the state-run Bangladesh Jute Mills Corporation, MOTJ, payment of its different dues, seeks fresh allocation, spent on jute procurement

The Bangladesh ministry of textiles and jute (MoTJ) seeks fresh allocation from the government of over Tk 3.55 billion for the state-run Bangladesh Jute Mills Corporation (BJMC) which will be spent on jute procurement and payment of its different dues, officials said.

Now the state-run entity is operating 26 mills, including three non-jute industries. There are seven mills in Dhaka zone, ten in Chittagong and nine in Khulna.

Related Keywords: BJMC, favour of Bangladesh Jute Mills Corporation, Government to help the state run entity, purpose of purchasing raw jute, repayment process, sanctioned more than Tk two billion, setting some conditions for the allocation, submit details of spending history of funds, utilize the funds for the payment of gratuity and wages to its employees

The government to help the state run entity has sanctioned Tk 2.70 billion in favour of Bangladesh Jute Mills Corporation (BJMC). The BJMC would not utilize the funds other than for the payment of gratuity and wages to its employees and the purpose of purchasing raw jute. The repayment has to be made through account payee cheques.

Now the state-run entity is operating 26 mills, including three non-jute industries. There are seven mills in Dhaka zone, ten in Chittagong and nine in Khulna.

Related Keywords: assistance to expand jute goods market, Bangladesh Jute Mills Corporation, BJMC, BJMC will export different jute goods, enjoy corporate tax, GFAPL act as strategic partner, GFAPL of Australia, Golden Fiber Australia Private Limited, including sacks to Australia worth crores, next two years, reduced tax at source, signed an agreement

Bangladesh Jute Mills Corporation (BJMC) has signed an agreement with Golden Fiber Australia Private Limited (GFAPL) of Australia under this deal BJMC will export different jute goods including sacks to Australia worth Tk565 crore in next two years.

The deal was signed at the textile and jute ministry’s conference room yesterday. BJMC Secretary Mohammad Saleh Uddin and Sakib Ahmed Khandoker of the GFAPL signed the agreement on behalf of their respective sides, according to a statement issued by the ministry.

Related Keywords: BJMC, building a plant, China, Grasim Industries, import of viscose material, Indian industry on edge, jute, major break through for textile sector, make viscose fibre from jute, MOD signed, offer technology and finance to Bangladesh, regular exporter of VSF, strengthen economic ties, Textile Industrial Corporation of China, Thai Rayon

China has made an offer of technology and finance to Bangladesh for building a plant to make viscose fibre from jute. Viscose made from cellulose fibre found in trees by way of a complex chemical treatment is softer than cotton with good moisture-absorbing properties. This offering by China is done in its pursuit to strengthen economic ties with South Asian countries.

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: Bangladesh jute export, BISA, BJMA, BJMC, forced to cut production, hampered production and exports, jute mills, local trade of jute, peak season for jute harvest, Supply shortage of raw jute

Bangladesh exports and local trade of jute hit hard by 20-30 per cent in the last 26 days due to political turmoil. The jute sector suffered loss of an estimated Tk 5.1 billion, insiders said. The Bangladesh Jute Mills Corporation (BJMC), Jute Mills Association (BJMA), Jute Spinners Association (BJSA) officials said that nearly 249 jute mills in the country have been forced to cut production by 42,000 tonnes owing to the blockade enforced by the BNP-led alliance since January 5.

Related Keywords: Bangaldesh private jute mills, Bangladesh Bank, BJMA, BJMC, financial assistance, fund constraint, government, jute goods, Ministry of Textiles and Jute, state owned jute mills

The Bangladeshi private jute millers are facing acute fund constraints due to decline in exports of jute goods. Under the Bangladesh Jute Mills Association, the mills have been demanding similar financial assistance from the government that is being given to the state-owned jute mills
to run their mills.

The Ministry for Textile and Jute recently urged the central bank to instruct the scheduled banks to implement the decision of the ministry's advisory committee on jute to give private mills equal facilities which the BJMC mills are now enjoying.

Related Keywords: BJMC, DoJ, dwindling export, Escalaion, Pressure, public and private mill, raw jute price, slow-moving exports, trading, windfall

Escalation in raw jute prices were seen in the last two months in spite of slow-moving exports, supposing that production level would drop much below last year’s level. This has put pressure on public and private mills, already under pressure for dwindling export receipts.

At present, raw jute is trading at Tk 1,600-1,800 a maund (40 kilogram) in producing regions, which is 13 percent higher than last year.