Dhaka, May 7 -- There was a time when jute was called the 'Golden Fiber of Bangladesh' and was one of the major foreign currency-earning sectors. This was because Bangladesh produced-and still produces-65 per cent of the world's raw jute.

Moreover, the strength of the jute fiber produced in this land is 40 per cent higher than that of the remaining 35 per cent produced in other regions, such as West Bengal and Assam-not to mention its superior color quality. Tossa jute, one of the varieties produced in Bangladesh is considered to be the finest quality.

This reality turned into a fairy tale in the early 2000s when the Government of Bangladesh decided to shut down state-owned jute mills due to recurring annual losses, primarily caused by ...