Privatisation of two industries finalised

Privatisation Commission has finalised the formalities to privatise two public sector industries -- Nishat Jute Mills of Tongi under Gazipur district and Kokil Textile Mills of Brahmanbaria.

That's It Knit Ltd was turned out as the highest bidder for Nishat Jute Mills while Mohammad Faruk Hossain Bepari became the highest bidder for Kokil Textile Mills Ltd.

The two bidders have already deposited money with the public exchequer as per the Letter of Indent (LOI) issued by the Privatisation Commission.

The highest bidder quoted Taka 19 crore for Nishat Jute Mills and he was granted a restructured loan of Taka 20 crore 25 lakh and 43 thousand. According to the terms of references of tender That's It Knit Ltd took the rebate facility of 35 per cent and paid Taka 12 crore 35 lakh at a time.

Bidder of Kokil Textile Mills quoted Taka 3 crore and he was granted a long term loan of Taka 8 crore 97 lakh 69 thousand and 506. He has paid 25 per cent of the quoted price as terms of tender.

The two industries will be handed over to the new owners very soon after completion of necessary formalities.