Nabarun Jute Mill handed over to private owners
Star Business Report
State-owned Nabarun Jute Mill, which was shut down seven years ago, was handed over to private owners on Saturday as a part of the government's on-going privatisation programme. The ownership was formally transferred to Uttara Traders (Pvt) Limited, a concern of Utttara Group of Companies, at a function, which was also attended by Textile and Jute Minister Shahjahan Siraj and State Minister for Energy and Mineral Resources AKM Mosharraf Hossain. Uttara Traders (Pvt) Limited purchased the jute mill for Tk 13.96 crore as it qualified as the highest bidder in September 1998. Addressing at the function, the textile and jute minister asked the private owners to follow ILO convention to pay wages of their workers. He said if private authorities fail to give adequate support to workers, the goal of privatisation will not be achieved. "To achieve the goal of privatisation, quick procedure of denationalisation is needed," said the state minister for energy and mineral resources. He said the main goal of privatisation is to make the sick public industrial units profitable. "We have already proved that jute business is profitable. Another jute mill, which we bought from government eight year ago, earned 100 crore foreign exchange," said G L Modi, managing director of Uttara Traders and chairman of Uttara Group of Industries. He said some 2,000 workers will get job in the mill that will go into operation soon. Enam A Chaudhury, chairman of Privatisation Commission, was present at the function.
| 
