Directed by the Jute Ministry, BJMC officials transferred the ownership of the mill to Mymensingh Jute Mill Sramik-Karmachari Kalyan Bahumukhi Samabaya Samity and Abbas Associates at a function on the mill premises yesterday.

Samity purchased the Shambhuganj Jute Mill, laid off on April 27, 1993, at a cost of about Tk 12.5 core as the highest bidder on July 12, 2001.

But Samity took Abbas Associates as its financing partner with permission from the authorities concerned as they failed to deposit the money.

BJMC Finance Director Kamaluddin, Secretary MA Sobhan, owner of Abbas Associates Abbasullah and Samity President Osman Gani, Senior Vice-president Shahjahan Sarker and General Secretary Abdul Matin were present at the occasion.