It is encouraging to note that export earnings from the jute and jute-made goods witnessed a healthy growth during the July-April period of the current fiscal year despite the ongoing worldwide shutdown due to coronavirus pandemic.
Reportedly, the export earnings from the sector stood at $791.30 million during July-April period, which is 14 percent higher than the earnings of the same period of the previous fiscal year.
That jute sector of the country sees a beacon of hope in this testing time is the consequence of fruitful implementation of various government initiatives.
There is no denying that jute production in the country has increased and export earnings from jute and jute goods have seen a substantial rise, but what is worrying is that these improvements mostly have come through the contribution of private jute mills.
Proper policy support and adjustment of fiscal burden
could help the jute sector become one of the important
economic growth drivers of the country
State-owned jute mills have long been in dire straits due to inadequate financial budget and lack of support. The number of government jute mills compared to the private sector divulges the perilous state of our state-owned jute mills.
According to Bangladesh Jute Mills Corporation (BJMC), there are 26 jute mills in operation under the public sector while the number of units in the private sector is around 200.
We believe if we can ensure efficiency in the operation of the state-owned jute mills, we can redeem the glorious past of the fabled golden fibre of this tropical monsoon region.
We envisage that jute has the potential to play a vital role in expanding the export market, earning more foreign currency, safeguarding the environment, and generating employment.
For expanding the export market of jute goods, efficient and sustainable diversification of jute products is a must. Only a diversified range of jute products can fully revive the potential of jute-based products as a major export earner.
Jute and jute products have a good demand both in the country and abroad as people are now very much aware about the need to use eco-friendly items. It is the time to regain the past glory of jute and its products.
Proper policy support and adjustment of fiscal burden could help the jute sector become one of the important economic growth drivers of the country.
