Bangladesh Textile Mills Corporation

Last updated

Bangladesh Textile Mills Corporation
AbbreviationBTMC
Formation1972
TypeGovernment
Headquarters Dhaka, Bangladesh
Location
  • BTMC Bhaban 7-9, Kawran Bazar, Dhaka-1215
Region served
Bangladesh
Official language
Bengali
Chairman
Brigadier General Md Ziaul Haque
Website www.btmc.gov.bd

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. [3]

Contents

History

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

References

  1. ↑ "Former athlete Firoza recalls old days". Prothom Alo. Archived from the original on 19 October 2016. Retrieved 14 October 2016.
  2. ↑ "Bangladesh Textile Mills Corporation: Private Company Information". bloomberg.com. Retrieved 14 October 2016.
  3. 1 2 "BTMC moves to reopen six mills with Chinese help". The Financial Express. Dhaka. Archived from the original on 18 October 2016. Retrieved 14 October 2016.
  4. ↑ "Public Sector Enterprise". Banglapedia. Retrieved 14 October 2016.
  5. ↑ "bangladesh textile mills corporation". btmc.gov.bd. Retrieved 14 October 2016.
  6. ↑ "Silk Board for raising duty on imported item". The Financial Express. Dhaka. Retrieved 14 October 2016.
  7. ↑ "Divested jute, textile mills flouting conditions". The Financial Express. Dhaka. Retrieved 14 October 2016.
  8. ↑ Ahmed, Hafez. "SoEs classified loans to 4 banks down to Tk 2.9b". The Financial Express. Dhaka. Archived from the original on 18 October 2016. Retrieved 14 October 2016.
  9. ↑ "Losses pile up at state entities". The Daily Star. 13 June 2010. Retrieved 14 October 2016.
  10. ↑ "No move yet to reopen Rangamati Textile Mill". The Daily Star. 5 February 2009. Retrieved 14 October 2016.
  11. ↑ "Feeding RMG exports". theworldfolio.com. The Worldfolio. Retrieved 14 October 2016.
  12. ↑ "Industrial enterprises placed under Bangladesh Cotton Mills Corporation" (PDF).
This page is based on this Wikipedia article
Text is available under the CC BY-SA 4.0 license; additional terms may apply.
Images, videos and audio are available under their respective licenses.