Role of Private Jute Mills in Reawakening of Golden Fiber in Bangladesh: A Study on Bangladesh Jute Mills Association

Abstract

Jute is called the golden fiber of Bangladesh which has important contribution to the county's economy. The worldwide awareness on the environment is the reason for the maximum use of Jute. It has environment-friendly characteristics. Jute is considered to be a vital sector from economical, agricultural and commercial point of view in Bangladesh. But the Jute Mills Corporation incurred loss to the tune of Tk. about 3 crore during 1975-76 to 2011. According to the Export Promotion Bureau (EPB), Bangladesh export earnings from jute and jute goods in the fiscal year 2012-2013 showed an increase of 6.54 percent over the previous year and earnings from the jute sector were US$ 1.01 billion, the export of jute bags and sacks increased by 28.16 percent year-on-year to fetch US$ 237.42 million in foreign exchange for Bangladesh. It is also seen that the exports of jute yarn and twine showed an increase of 8.24 percent and earnings were at US$ 506.74 million. The research aim is to show the role of the III running jute mills which are under private sector controlled by BJMA for making new upwards growth of jute and jute goods of Bangladesh.