Dhaka: The government has decided to formulate an independent policy to revive the glory of the Golden fibre, further expand its market at home and abroad, and also promote its diversified use.

‘The ministry has already directed the officials of

Bangladesh Jute Mills Corporation (BJMC) and other concerned for preparing the draft of an independent jute policy,’ said State Minister for Textile and Jute Mirza Azam on Sunday.

He said there is no jute policy in the country, which is very much necessary to make the jute sector an important player in the national economy keeping in view Bangladesh’s upgradation to the status of a middle income country over the next few years.

‘The Awami League government led by Prime Minister Sheikh Hasina has already re-opened five closed jute mills while several others are under process for re-opening,’ Azam said.

He said the ministry has undertaken initiatives to take back some jute mills from the private owners, as they have violated the terms and conditions after taking over ownership from the government.

The Awami League government under the dynamic leadership of Prime Minister Sheikh Hasina has done much for rejuvenating the jute sector and given directives for reviving the image of jute, Azam stated.

The state minister, however, said the ministry is set to procure raw jute on comparatively fair prices from various sources aimed at removing the alleged anomalies.

‘If we purchase raw jute during the season, then the government would save Taka 300 crore annually, because we procure jute every year at Taka 1,200 crore and the price range of raw jute is Taka 1,200-Taka 1,600 crore in the period, but it goes up to Taka 2,000 in the off season,’ he added.

Azam said all matters including procurement and seasonal benefit related to jute would be discussed with Finance Minister Abul Maal Abdul Muhith.

As many as three crore people of the country are depending on jute cultivation and production. The BJMC are now operating 26 jute mills, while one closed, an official said.