Private sector to lead industrial growth: Minister

Commerce Minister Khandakar Abdul Muktadir on Saturday said the government has no plan to establish new state-owned mills or factories, as the private sector will play the leading role in driving industrial growth.

“The government will not run businesses. The private sector will lead business activities, while the government will provide necessary support,” he said.

The minister made the remarks at a seminar titled “Sustainable Transition to Employment: Preparedness and Pathways for Textile Students” held at the Jute Diversification Promotion Centre in Farmgate.

Muktadir, who is also in charge of the Textiles and Jute Ministry, said the government’s role will be to provide policy support and create a business-friendly environment for industries.

Highlighting the challenges facing the textile sector, he said the industry needs modernisation to create sustainable employment opportunities for graduates.

“If the industry faces difficulties, job opportunities for students will also be affected,” he said.

The minister stressed the need to update the curriculum of textile institutes and engineering colleges in line with changing technologies and market demands.

He also called for stronger collaboration among the Bangladesh Textile Mills Association, capable private mills and educational institutions.

Such cooperation, he said, could help address faculty shortages, accelerate technology adoption and provide students with practical industry exposure.

Muktadir identified unreliable energy supply, high production costs, expensive financing and technological limitations as major challenges for the textile sector. He said the government is working to address these issues.

He added that the sector’s competitiveness could be strengthened by promoting man-made fibres, developing new products and upgrading the value chain.

Textiles and Jute Secretary Abdun Naser Khan inaugurated the seminar, while Dr Abbasuddin Shayak, associate professor at Bangladesh University of Textiles, presented the keynote paper.

Ministry officials, industry representatives, entrepreneurs, and former and current textile students attended the event.