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Ray of hope for golden fibre

Entrepreneurs get technical, financial supports to produce diversified jute products

UNB, Dhaka
The government initiative to encourage entrepreneurs to produce new diversified jute products is gaining momentum, raising hope to revive the lost glory of jute.
The government set up Jute Diversification Promotion Centre (JDPC) in March 2002 to inspire both new and old entrepreneurs to set up small and big factories in this promising sector by offering technical and financial supports.
The main objective of the first ever such government project is to increase the use of eco-friendly jute goods both internally and externally with a vision to dominate the vast market expectedly to be emerged after multi-fibre arrangement (MFA) era in 2004.
During the post-MFA era, according to business experts, any package should be made of eco-friendly, easily degradable, dispos-
able and have recyclable ingredients, and then jute would become the most demanding, reliable and multifaceted component in the packaging sector.
Bangladesh is the second largest jute and jute goods- producing country in the world after India. The other major jute-producing countries are China, Thailand, Myanmar and Nepal.
India consumes 90 per cent of its jute and jute products domestically while Bangladesh exports 90 per cent of its jute and jute products, according to an official.
Talking to the news agency, JDPC executive director Dr ABM Abdullah said the project with a revolving fund of Tk 20 crore started its function with 11 identified technologies. Now the number of its technologies is 31. "Over 100 entrepreneurs are now in touch to set up diversified jute product factories," he added.
Taking support from the JDPC, Dr Abdullah said, Sky Land and Farm Ltd has been producing 26 diversified jute items since May 2002 in its industry in Narsingdi and the items are 100 per cent export-oriented. Now their items are being exported to Japan and
some European countries.
The target of the industry that employed nearly 300 staff and workers is to consume 9,000 tons of raw and export products worth Tk 12 crore everyyear.
Under its project, the JDPC provides 20 per cent fund of the total loan to entrepreneurs through banks alongside providing free technical support. It also provides 15 per cent fund of the total cost to the entrepreneurs as grant for direct procurement of machinery.
Dr Abduallah, who built up his career in jute research and won several gold medals for his out-
standing achievement, said the target of the 5-year project is to increase investment in this sector from Tk 500 crore to Tk 1000 crore. Now nearly Tk 200 crore is being invested in the sector, he added.
With the JDPC support two industries have so far gone into operation, while two projects under implementation process, five under consideration of various banks and 20 projects at various stages of scrutiny, Dr Abdullah said.
The JDPC executive director, however, expressed disappointment over dilly-dally attitude by some banks and said two banks are taking unusual time in sanctioning loans to the entrepreneurs even after recommendation of their proj ects by the JDPC.