Tk 422 cr suggested for Khulna Newsprint relaunch

An experts committee on Khulna Newsprint Mills (KNM) has pointed out
that the mill needs at least Tk 422 crore in running capital to
purchase machinery and other equipment for its re- opening. The lone
state-run newsprint producing factory has remained closed for seven
years. The recommendations the committee put forward in its reports,
submitted to the Bangladesh Chemical Industries Corporation ( BCIC)
last month, also included reforms and renovation of the mill. This
body, a nine-member one with BCIC's Technical and Engineering
Director SM Hafizuddin and KNM Managing Director Khalilur Rahman as
its head and member-secretary, made a survey of the mill's latest
condition and ascertained what should be done to restore production.
It strongly opposed any divestment move and suggested ways and means
to make the mill a profitable one. The government body, formed May 28
last, took five months to report its findings to the BCIC chairman.
"We have also discussed the sources of raw materials for the mill,
proper marketing of its products at home and abroad and its cost
effectiveness," the expert committee's member- secretary told The
Daily Star. Khalilur Rahman said the committee also recommended a Tk
500 crore debt write-off for the mill. The government should go
tough on any influence on the mill management by its CBA leaders,
the experts further recommended.