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Related Keywords: Bangladesh Bank issues circular, businesmen and traders, implement Jute packaging act, Inter ministerial meeting, mandatory us of jute bags for packaging, millers, Ministry of Textiles and Jute, renewing and disbursing bank loans, sanctioning

An inter-ministerial meeting held at the Ministry of Textiles and Jute (MoTJ) on September 20 decided to tag the condition of mandatory use of jute bags for packaging essential commodities like paddy, rice, wheat, maize and sugar while sanctioning, renewing and disbursing bank loans for millers, businessmen and traders.

Bangladesh Bank issued Monday a circular, directing all the scheduled banks to comply with the government's decision on mandatory use of jute bags for packaging foodstuff and agricultural produce.

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: Bangladesh Central Bank, Bangladesh jute industry, BJMA and BJMC, BJSA, captial machinery import, Export development fund, jute millers loan, jute yarn, Ministry of Textiles and Jute

Bangladesh Central bank are reluctant to give jute millers loan from Export Development Fund (EDF) fund for import of capital machinery as it will impair the purpose of the fund and squeeze the number of beneficiary despite jute mills persistently pressing the bank for support from the EDF fund.