Bangladesh’s textiles sector will henceforth be under the Department of Textiles instead the Board of Investment.
The Cabinet approved the shift in a meeting chaired by Prime Minister Sheikh Hasina.
Cabinet Secretary M Musharraf Hossain Bhuiyan told reporters after the meeting that the Ministry of Industries had proposed the change to clear confusion about who takes care of the sector.
He said: “The main matter is that textiles sector’s patron organization will be the Department of Textiles, not the Board of Investment.”
National Industrial Policy of 1991 stipulates that the ministry or department under which a sector falls will be its patron authority.
But, the secretary said, the Cabinet on Oct 7, 1992 had amended the policy bringing small and cottage industries under BSCIC, industries in export processing zones under BEPZA, and other units under the Board of Investment.