Dhaka, june 25: in a bold move the government has decided to close down the country’s first and the largest 52-year-old adamjee jute mills (ajm) to cut the staggering losses being incurred by the state-owned enterprises (soes) annually.
Adamjee jute mill established at narayanganj near dhaka in 1950, is one of the largest jute mills of the world it was, however, closed in 2002 on account of its recurring losses and labour unrest it was, however, closed in 2002 on account of its recurring losses and labour unrest. Adamjee jute mills limited after partition of pakistan and india, with the division of bengal province, the east pakistan section was left with over 40% of the world's jute crop.
Adamjee jute mills was set up by abdul wahid adamjee, pakistan's foremost industrialist, and scion of the wealthiest family in the country initially, the said project was a partnership between the adamjees and the picic (the government's industrial arm. Adamjee jute mills ltd 477 likes 8 talking about this adamjee jute mills ltd.
Adamjee jute mills was set up in narayanganj, bangladesh in 1951 by abdul wahid adamjee, pakistan’s foremost industrialist, and scion of the wealthiest family in the country - adamjee jute mills introduction initially, the said project was a partnership between the adamjee’s and the picic (the governments industrial arm) – the adamjee family, however, soon took control of the project, and eventually built it into the largest jute mill in the world.
The economic review 2002, published by the finance ministry along with the budget documents, bangladesh jute mills corporation (bjmc) has incurred a total loss of 406 billion taka ($70 million) in fy2002 of which adamjee jute mills (ajm) alone contributed 19 billion taka ($327 million. Adamjee jute mills closes tomorrow a sombre peace prevailed in the usually humming adamjee jute mills (ajm) premises with law enforces massed to enforce a government decision to close down the world's largest jute mill tomorrow.