Bangladesh Jute Mills corporation (BJMC) has accumulated nearly Tk 500 crore in dues to jute traders. Many businesses have been shutting down due to financial crisis.
Ordinary jute mill traders conducted a rally during the officers’ meeting at the Khulna Crescent Jute Mills on Wednesday, demanding payment of arrears.
The amount has accumulated over the last three years, says jute trader Monirul Islam Bashar.
He told the Dhaka Tribune: “There is an overall outstanding amount of Tk 500 crore which has been added up since fiscal year 2016-17 dues of Tk78 crore, plus FY2017-18’s Tk 380 crore, and then this year’s Tk27 crore.”
Due to the ineptitude of BJMC officials, jute mills have stockpiled unsold products worth Tk 6 crore, which ultimately led to the building up of dues.
Collective Bargaining Agent (CBA) General Secretary, Sohrab Hossain, said: “If jute purchases are done with the allotted money during high season, every maund of jute can be bought at Tk200-300 less. But some BJMC officials delay the disbursement of the money. When the money is finally released, the mills suffer losses because of buying the jute late in the season.
This is a conspiracy, because of which the jute mills are lagging behind and people involved in the business are left in crisis.”
The traders said that they do not have enough money to procure jute. Many businessmen are turning down businesses due to debt.
Traders have urged the government to immediately pay up the dues.