Bangladesh Textile Mills Corporation (BTMC) was established under Article 10 of Bangladesh Industrial Enterprises (Nationalization) Order of 26th March, 1972 (President’s Order No. 27 of 1972). BTMC started its formal function from 1st July, 1972 with 74 nationalized mills with the aim and objective of controlling, supervising and coordinating the activities of textile mills nationalized and placed under it; as well as establishment and development of new industrial enterprises. Later on another 12 mills were established by BTMC. Therefore, the total number of mills of BTMC were 86.
The general direction and administration of the affairs and business of BTMC is vested on a Board of Directors headed by the Chairman. The function’s to be performed by the corporation is contingent upon the policies pursued by the Government.
Under the denationalization and privatization policy of Government, 65 mills were handed over, sold and Liquidated during 1977 to 2013. Prior to denationalization and privatization, BTMC enjoyed nearly monopoly within the yarn and cloth market of Bangladesh. As a result of the denationalization and privatization the market situation has changed dramatically.
At present, BTMC has 18 textile mills. Five textile mills (6 units) are now running under service charge system and producing different counts of cotton yarn/viscose yarn in the form of 32/1 to 80/1. Another 3 closed mills are under process of reopening by Service Charge and Balancing, Modernization, Rehabilitation and Expansion (BMRE). Two mills are assigned for setting up Textile Palli (Khulna Textile Mills, Khulna and Chittaranjan Cotton Mills, Narayanganj). Interested investors are invited to buy industrial plot in Chittaranjan Textile Palli & Khulna Textile Palli.
Service charge system has been introduced on contract basis, where contracted parties supplies raw materials to the respective mill of BTMC at their own costs and the mill produce different counts of yarn/woolen fabrics as per requirement of the parties within the available technical facilities. The mills get only a certain amount of service charge per bale from the parties and the responsibility of the marketing of finished products lies with the parties.
In light with achieving Millennium Development Goal (MDG), implementing ‘Vision 2021′ and developing Bangladesh as a medium income country, BTMC has taken steps to attract local and foreign investors for joint venture project to establish modern Spinning, Weaving, Dyeing & Finishing, Composite Textile and Textile Accessories mills and industries. Joint venture policy for investors is in progress. Interested local and foreign investors are cordially invited with proposals to establish modern mills according to the market demand.
To develop Bangladesh Textile Mills Corporation (BTMC) as a profitable and remarkable enterprise in the textile sector.
- To develop the textile sector by increasing the production of quality yarn and cloth.
- To enhance the contribution of textile sector in national economic development.
- To modernize the textile sector through domestic and international joint venture.
- To create healthy environment of investment to attract domestic and international entrepreneurs.
- To remove debt burden and bring financial solvency through truly utilization of assets.
- To create employment and develop efficient man power in textile sector through education, training and research.