Bangladeshi Sugar mills are likewise being transferred to the private sector

Following the privatization of the state-owned jute mills due to losses incurred over the years, the government is now exploring the privatization of the state-owned sugar mills as well. In response to the massive amount of losses and accumulated debt, the government has begun to consider selling three state-owned sugar mills to an international consortium to alleviate the situation.

The Sugar International Company, a joint venture of three companies from Japan, Thailand, and the United Arab Emirates (UAE), has proposed to invest around USD 579.41M in three state-owned sugar mills: Setabganj in Dinajpur, Mobarakganj in Jhenaidah, and Rajshahi Sugar Mills. The Sugar International Company is a joint venture of three companies from Japan, Thailand, and the United Arab Emirates (UAE). The consortium, which is led by Sharkara International of the United Arab Emirates, has suggested that the mills be operated in partnership with the government. The three sugar mills currently owe a total of USD 811.17M to a variety of state-owned commercial and specialized banks across the country.

An inter-ministerial conference, presided over by Cabinet Secretary Khandaker Anwarul Islam and attended by the top executives of those banks, was convened at the Secretariat on 19 April to discuss the idea, which was led by Cabinet Secretary Khandaker Anwarul Islam. Md Arifur Rahman Apu, the Chairman of the Bangladesh Sugar and Food Industries Corporation (BSFIC), indicated that Sharkara International's offer to invest in three sugar mills has been discussed, but that no final decision has been made on the proposal. A second conference will be conducted to further debate the subject in depth, with a final decision expected by the end of April 2022.