Dhaka, April 3 (bdnews24.com) - The Bangladesh Textile Mills Corporation (BTMC) is to hand over four of its mills to the Privatisation Board for sale.
"The corporation has started the handover procedure," BTMC chairman Md Sharful Alam told bdnews24.com Tuesday.
Out of 18 mills, Chitaranjan textile mill at Narayanganj, Ragamati textile mill, Tangail textile mill and Magura textile mill would be privatised soon, he added.
"These mills will not become profitable under BTMC operation due to financial situation and old machinery," he said.
BTMC sources said that the corporation had agreed in principle to hand over the four mills at a meeting, chaired by textile adviser Geeteara Safiya Chowdhury on March 22 at the textile ministry.
Alam said that all the permanent workers of the four mills would be given the 'golden handshake.'
Of the four mills, Chittaranjan textile mill was established in 1928.
Source said that members of the Privatisation Board and the BTMC had also discussed the handover procedure Monday at the board office.
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