The government is actively working to resolve the instability in the edible oil market. From the ports to Khatunganj, authorities are closely monitoring and verifying oil reserves.
Sheikh Bashiruddin, the Adviser to the Ministry of Commerce and the Ministry of Textiles and Jute, has expressed hope that the instability in the edible oil market will subside within a week.
The advisor made these remarks on Monday after visiting the Daulatpur Jute Mill in Khulna.
He further stated, "There is no possibility of reopening the closed jute mills under government management. The lease policy for jute mills, formulated by the previous government, is being revised to attract private investment. Under the new policy, investors will have the opportunity to produce other products alongside jute in BJMC-owned mills. This will accelerate the stagnant jute mill leasing process and create employment opportunities."
The adviser also mentioned, "Last week, a closed government textile mill in Kurigram was leased to the private sector, allowing business owners to invest there. This week, the process of leasing three more mills is expected to be completed."
He emphasized, "Operating jute mills under government management has only resulted in losses of billions of taka over the long term, without yielding any substantial benefits. Therefore, the government plans to transfer ownership of its jute and textile mills to the private sector."
He explained, "To keep all existing jute mills operational, approximately 4 million metric tons of jute are required annually. However, the country's jute production is only 1.2 million metric tons. Moreover, the global annual jute production is only 2.5 million metric tons. Under such circumstances, it is not feasible to run so many establishments solely on jute. As a result, conditions for leasing jute mills to the private sector are being relaxed, allowing for the establishment of other industries alongside the jute sector."
He also stated, "The reopening of the Daulatpur Jute Mill under private initiative has provided employment for approximately 700 people, and gradually, opportunities for an additional 3,000 jobs will be created here."
The adviser, "Such successful initiatives and investments will open the door for more employment opportunities. The mill is progressing in a positive and profitable manner by simultaneously producing jute products and shoes under private management. Innovative initiatives like these are not as effective when implemented under government supervision."
During the visit, Khulna District Commissioner Mohammad Saiful Islam and officials from the Daulatpur Jute Mill were present.