The Bangladesh Textile Mills Corporation (BTMC), a state-owned entity, is embarking on a new initiative to lease three of its dormant mills, following a decade of unsuccessful attempts to revive them through the public-private partnership (PPP) model.
The Prime Minister has granted approval for the leasing of Valika Woolen Mills in Chittagong, Sylhet Textile Mills, and Kurigram Textiles Mills to private enterprises, according to officials.
These selected mills are equipped with essential utilities such as gas, electricity, and water connections, and there are no outstanding bills for utilities, land development fees, or municipal taxes, officials confirmed.
Md Abdur Rauf, the secretary of the Ministry of Textiles and Jute, acknowledged the prolonged nature of the PPP process and emphasized the limited success it has witnessed.
Consequently, the BTMC has opted to lease out these three textile units, drawing parallels with the Bangladesh Jute Mills Corporation’s unsuccessful PPP attempts for state-owned jute mills.