Muhith backs plan to revive Rajshahi Silk Factory | The Daily Star
12:00 AM, August 19, 2011 / LAST MODIFIED: 12:00 AM, August 19, 2011

Muhith backs plan to revive Rajshahi Silk Factory

Minister promises to revitalise the silk industry

Finance Minister AMA Muhith yesterday backed a plan to resume the operations of the now-defunct Rajshahi Silk Factory partially as there is an acute crisis of local silk yarn in the country.
"Opening the state-owned factory fully at present will not be viable due to lack of arrangement of sufficient yarn," Muhith further said while sharing views with the executives and officials of Bangladesh Silk Board (BSB) and silk entrepreneurs at a meeting in Rajshahi.
Earlier, the minister visited different sections of the factory to see its present condition on the first day of his two-day visit to the metropolis. He will also meet with various government officials and trade organisations.
"We are sincere about revitalising the silk sector with necessary financial support but effective ideas and recommendations from the authorities and organisations concerned are very vital in this regard," he added.
Responding to a proposal of incorporating the sericulture sector in the entrepreneurs' equity fund of Bangladesh Bank, he said the proposal can be considered for the betterment of the sector.
Rajshahi Mayor AHM Khairuzzaman Liton put emphasis on the reopening of the factory with public-private partnership system for elevating the socio-economic condition of the region.
Besides, Liton stressed the need for protecting the region's prestigious institutions from further degradation.
Earlier, BSB Chairman Sunil Chandra Pal briefed the minister about various expansion activities of the organisation alongside highlighting the aspects of the resumption as a model one that needs Tk 15 crore as running capital at present.
Silk industrialists Sadar Ali and Liakat Ali emphasised the need for boosting the mulberry farming through providing the farmers with collateral and interest-free loan for the sake of making the nation self-sufficient in yarn production.

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