Bangladesh Textile Mills Corporation Explained

Bangladesh Textile Mills Corporation
Abbreviation:BTMC
Formation:1972
Type:Government
Headquarters:Dhaka, Bangladesh
Location:BTMC Bhaban 7-9, Kawran Bazar, Dhaka-1215
Region Served:Bangladesh
Language:Bengali
Leader Title:Chairman
Leader Name:Brigadier General Mahbub Ahmed Zakaria,

Bangladesh Textile Mills Corporation, or BTMC,[1] is a public corporation that owns and manages all government textile mills in Bangladesh and is located in Dhaka.[2] It manages 18 government owned textile factories.

History

The corporation was established on 26 March 1972 through the nationalization of textile mills in Bangladesh.[3] [4] It owns Eagle Textile in Chittagong.[5] The Ministry for Textiles and Jute is responsible for running the corporation.[6] The corporation has the largest liability of any state owned enterprise in Bangladesh with 76.54 billion taka in loans.[7] Nearly 99% of its loans are in default.[8] Rangamati Textile Mill is also owned by the corporation.[9] It used to manage 86 government owned textile mills which has been reduced to the 18 today.[10] [11]

List of nationalised textile mills

About 73 textile mills were nationalised following the independence of Bangladesh and later they became subsidiaries of the Bangladesh Textile Mills Corporation.[12] The list is given below:

Notes and References

  1. News: Former athlete Firoza recalls old days. Prothom Alo. 14 October 2016. https://web.archive.org/web/20161019013534/http://en.prothom-alo.com/sports/news/116777/Former-athlete-Firoza-recalls-old-days. 19 October 2016. dead.
  2. Web site: Bangladesh Textile Mills Corporation: Private Company Information. bloomberg.com. 14 October 2016.
  3. Web site: Public Sector Enterprise. Banglapedia. 14 October 2016.
  4. Web site: bangladesh textile mills corporation. btmc.gov.bd. 14 October 2016.
  5. News: Silk Board for raising duty on imported item. The Financial Express . Dhaka . 14 October 2016.
  6. News: Divested jute, textile mills flouting conditions. The Financial Express . Dhaka . 14 October 2016.
  7. News: SoEs classified loans to 4 banks down to Tk 2.9b. The Financial Express. Dhaka. Ahmed. Hafez. 14 October 2016. https://web.archive.org/web/20161018195058/http://print.thefinancialexpress-bd.com/old/more.php?news_id=134795&date=2012-06-29. 18 October 2016. dead.
  8. News: Losses pile up at state entities. The Daily Star. 14 October 2016. 13 June 2010.
  9. News: No move yet to reopen Rangamati Textile Mill. The Daily Star. 14 October 2016. 5 February 2009.
  10. News: BTMC moves to reopen six mills with Chinese help. The Financial Express. Dhaka. 14 October 2016. https://web.archive.org/web/20161018195918/http://print.thefinancialexpress-bd.com/2016/08/23/149947. 18 October 2016. dead.
  11. Web site: Feeding RMG exports. theworldfolio.com. The Worldfolio. 14 October 2016.
  12. Web site: Industrial enterprises placed under Bangladesh Cotton Mills Corporation.

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