Economic Reporter :
The Ministry of Textiles and Jute (MoTJ) has taken back the Kokil Textile Mills Limited (KTML) of Brahmanbaria for breaching the conditions of sales agreement. The Privatization Commission sold the state-owned KTML in 2006 to boost production and create job opportunity.
But, the new owner did not open the KTML for long even after handing over of the authority of the mill, which has actually disrupted the aim and goal of the government of selling the mill, said a MoTJ statement on Saturday.
Besides, the new owner is yet to make the necessary payment to the government after the final notice for payment was served on September 4, 2014.
“Thousands of workers and employees are being deprived of employment as the mill remained shut and it is violation of the sales agreement. That is why the government has cancelled the agreement and taken back the KTML,” said the statement.
The Ministry of Textiles and Jute (MoTJ) has taken back the Kokil Textile Mills Limited (KTML) of Brahmanbaria for breaching the conditions of sales agreement. The Privatization Commission sold the state-owned KTML in 2006 to boost production and create job opportunity.
But, the new owner did not open the KTML for long even after handing over of the authority of the mill, which has actually disrupted the aim and goal of the government of selling the mill, said a MoTJ statement on Saturday.
Besides, the new owner is yet to make the necessary payment to the government after the final notice for payment was served on September 4, 2014.
“Thousands of workers and employees are being deprived of employment as the mill remained shut and it is violation of the sales agreement. That is why the government has cancelled the agreement and taken back the KTML,” said the statement.
