Bangladesh Textile Mills Corporation

Bangladesh Textile Mills Corporation
Abbreviation BTMC
Formation 1972
Type Government
Headquarters Dhaka, Bangladesh
Location
  • BTMC Bhaban 7-9, Kawran Bazar, Dhaka-1215
Region served
Bangladesh
Official language
Bengali
Chairman
 Brigadier General Mahbub Ahmed Zakaria,
Website Bangladesh Textile Mills Corporation

Bangladesh Textile Mills Corporation or BTMC,[1] is a public corporation that owns and manages all government textile mills in Bangladesh and is located in Dhaka.[2] It manages 18 government owned textile factories.[3]

History

The corporation was established on 26 March 1972 through the nationalization of textile mills in Bangladesh.[4][5] It owns Eagle Textile in Chittagong.[6] The Ministry for Textiles and Jute is responsible for running the corporation.[7] The corporation has the largest liability of any state owned enterprise in Bangladesh with 76.54 billion taka in loans.[8] Nearly 99% of its loans are in default.[9] Rangamati Textile Mill is also owned by the corporation.[10] It used to manage 86 government owned textile mills which has been reduced to the 18 today.[11][3]

References

  1. ↑ "Former athlete Firoza recalls old days". en.prothom-alo.com. Prothom Alo. Retrieved 14 October 2016.
  2. ↑ "Bangladesh Textile Mills Corporation: Private Company Information". bloomberg.com. Retrieved 14 October 2016.
  3. 1 2 "BTMC moves to reopen six mills with Chinese help". print.thefinancialexpress-bd.com. The financial express. Retrieved 14 October 2016.
  4. ↑ "Public Sector Enterprise". en.banglapedia.org. Banglapedia. Retrieved 14 October 2016.
  5. ↑ "bangladesh textile mills corporation". btmc.gov.bd. Retrieved 14 October 2016.
  6. ↑ "Silk Board for raising duty on imported item". thefinancialexpress-bd.com. The Financial Express Online Version. Retrieved 14 October 2016.
  7. ↑ "Divested jute, textile mills flouting conditions". thefinancialexpress-bd.com. The Financial Express Online Version. Retrieved 14 October 2016.
  8. ↑ Ahmed, Hafez. "SoEs classified loans to 4 banks down to Tk 2.9b". print.thefinancialexpress-bd.com. The Financial Express. Retrieved 14 October 2016.
  9. ↑ "Losses pile up at state entities". thedailystar.net. The Daily Star. 13 June 2010. Retrieved 14 October 2016.
  10. ↑ "No move yet to reopen Rangamati Textile Mill". thedailystar.net. The Daily Star. 5 February 2009. Retrieved 14 October 2016.
  11. ↑ "Feeding RMG exports". theworldfolio.com. The Worldfolio. Retrieved 14 October 2016.
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