Editorial

Big investment to pour into sugar mills

Proper utilisation of the fund must be ensured


Bangladeshpost
Published : 04 Jul 2021 08:12 PM | Updated : 05 Jul 2021 12:42 AM

In the midst of the pandemic when the businesses globally are suffering from huge losses, government has taken measures to reopen the closed sugar mills with huge foreign investment under a modernisation scheme. 

According to a report published in this daily on Sunday, China, Japan, Thailand and the United Arab Emirates have shown interest in investing in six sugar mills of the country. Government has also taken a new plan to produce sugar as well as by-products from sugarcane including spirits, alcohols, bio-fertiliser and electricity for export to different countries after meeting the local demand.

The decision

to reopen mills will certainly help boost the country’s

economy

further

Government should look for more export sources, which will increase income from sugar and sugarcane by-products. Not only in export, measures should also be taken to increase the demand of sugar in the local market. Therefore, the decision to reopen mills will certainly help boost the country’s economy further. The mentioned initiatives will bring the unemployed workers back to work and also increase production and income of the mills.

Augmenting sugar production will reduce local market price, which will make us self-sufficient in sugar. Government should take adequate measures so that in the future the mills don’t suffer from more losses. We believe if the government’s initiatives are implemented properly, these sugar mills will create potential impact on our economic growth.