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Prime Minister Tarique Rahman today said a state can become truly strong only when its people are economically empowered, stressing that political rights must be matched by opportunities to earn, invest and improve livelihoods.
“Keeping ordinary people in hardship or silencing them cannot make a state strong. Political rights must go hand in hand with economic empowerment,” he said.
The Prime Minister made the remarks at a ceremony at the Bangladesh Secretariat marking the signing of lease agreements to reopen three long-closed state-owned jute mills under private management.
The three mills will see around Tk 619 crore in investment, create at least 11,629 jobs and generate an estimated combined annual turnover of Tk 1,175 crore, according to PM’s Deputy Press Secretary Hasan Shiplu.
Under the agreements, PRAN-RFL Group will take National Jute Mills Ltd in Sirajganj and Star Jute Mills Ltd in Khulna on lease, while HAMCO Group will take over Platinum Jubilee Jute Mills Ltd in Khulna.
Tarique said the government wants to strengthen the country economically and socially by creating greater opportunities for people to improve their livelihoods.
“If we can ensure the economic capacity of the people, the state becomes strong,” he said.
The Prime Minister pledged policy support to genuine domestic entrepreneurs, saying investment and job creation would improve both livelihood security and the broader economy.
“If we can support entrepreneurs, it will create employment and livelihood security for people on the one hand and improve the overall economic situation on the other,” he said.
He said the government’s ultimate objective was to build a country where people’s living standards would be better than they are today.
“We want to build a country where everyone will be better off than they are now. This is our main goal and objective,” he said.
Local investment alongside FDI
Tarique stressed that Bangladesh needs to encourage domestic investment alongside attracting foreign direct investment.
“Foreign investment will certainly come and we want it, but local investors and entrepreneurs must also be encouraged,” he said.
The government, he added, would provide whatever policy support is necessary to help domestic businesses invest and expand.
“We will provide as much policy support as necessary from the government to help them do business and make investments,” he said.
The Prime Minister also thanked PRAN-RFL Group and HAMCO Group for taking responsibility for the three mills and expressed hope that their investments would succeed and contribute to the national economy.
According to the agreements, around Tk 157 crore will be invested in National Jute Mills at Raipur in Sirajganj. The mill is expected to create 5,238 jobs and generate annual turnover of about Tk 500 crore.
Star Jute Mills at Dighlia in Khulna will receive around Tk 250 crore in investment. Its reopening is also expected to create 5,238 jobs, with an annual turnover target of around Tk 500 crore.
Meanwhile, around Tk 212 crore will be invested in Platinum Jubilee Jute Mills at Khalishpur in Khulna. The mill is expected to create at least 1,153 jobs and generate annual turnover of about Tk 175 crore.
The government has decided to reopen 20 of the 25 Bangladesh Jute Mills Corporation (BJMC) mills that remain closed through private-sector leasing arrangements.
So far, leases for 14 mills have been completed and possession handed over to the lessees, while production has already resumed at nine of them.
Commerce, Industries and Textiles and Jute Minister Khandakar Abdul Muktadir, State Minister for Textiles and Jute Md Shariful Alam, Textiles and Jute Secretary Sharf Uddin Ahmed Choudhury, PRAN-RFL Group Chairman Ahsan Khan Chowdhury and HAMCO Group Managing Director A T M Mostafa spoke at the programme.