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The government has launched an initiative to revive 15 closed and non-operational textile mills under the Bangladesh Textile Mills Corporation (BTMC) through public-private partnerships (PPP) and private investment. It is also fast-tracking the long-term lease of two additional closed mills to bring them back into operation.
Prime Minister Tarique Rahman disclosed the plan while responding to a question from reserved-seat MP Farida Yasmin during a parliamentary session on Wednesday. The session was chaired by Deputy Speaker Kaisar Kamal.
The prime minister said the government is working to restore the closed BTMC mills on a commercially viable basis and has already held two high-level meetings to advance the initiative.
He also highlighted a government project aimed at reviving Bangladesh’s traditional Muslin fabric. Under the second phase of the project, titled Revival of Muslin Yarn Technology and Muslin Fabric, entrepreneurs, weavers and spinners will receive training and technical support to help restore the country’s historic textile heritage.
Tarique Rahman said the Bangladesh Handloom Board is providing policy and technical assistance to handloom weavers, along with low-cost dyeing, printing and calendaring services.
To encourage investment in the textile and jute sectors, the government is offering a range of incentives. These include special financial support for jute product exports, a full VAT exemption on domestic trading of jute products, and recommendations for duty-free imports of textile machinery for new investors.
The prime minister added that ongoing projects to promote advanced technology in jute and jute seed production are also helping attract greater domestic and foreign investment, which is expected to have a positive impact on the country’s overall economy.