The government has decided to send about 25,000 workers of loss-making jute mills into early retirement under a programme known as golden handshake, reports bdnews24.com.
Textiles and Jute Minister Golam Dastagir Gazi announced the development in a media briefing on Sunday.
Workers of the 26 state-owned jute mills across the country have announced protests against the move.
"The jute mills are incurring losses and so the government is considering offering workers the golden handshake to move the industry forward," said Gazi.
As many as 24,886 permanent workers are employed by jute mills in the country, according to Textiles and Jute Secretary Lokman Hossain.
"The prime minister has instructed us to send the workers into retirement through the golden handshake scheme. After that, jute mills will be modernised and made production-oriented under PPP (public-private partnership) programme. These workers will then be given the opportunity to work there,” he said.