Adamjee Jute Mills was set up in Narayanganj, Bangladesh in 1951 by Abdul Wahid Adamjee, Pakistan's foremost industrialist, and scion of the wealthiest family in the country. Initially, the said project was a partnership between the Adamjee's and the PICIC (the governments industrial arm) - The Adamjee family, however, soon took control of the project, and eventually built it into the largest Jute Mill in the world. The Adamjee family lost control of the Mill in 1971 during the Pakistan-Bangladesh war of Independence.
Adamjee Jute Mill was established to utilize the relatively finer jute fibers of Bangladesh (East Pakistan of that time) region. Narayanganj was the largest or second largest jute market of the world. As there were many rivers and was a gateway to Dhaka, Narayanganj's economic activities were largely contributed by Adamjee Jute Mills and it was also called the Dundee of the East. The Pakistani rulers made best use of jute to earn the "golden" returns from the foreign exchange earned by exporting jute products. Later Performance
During the start of 1970s, the polypropylene products start to substitute traditional jute products and the fall of Adamjee Jute Mills start. In addition to that, Bangladesh emerged as an independent country, opening a wide new economic vista before the new leadership of the country, with renewed socio-economic development activities all around. Along with development activities in different fields, Adamjee Jute Mill also came back to life under Bangladeshi management. Unfortunately, something went wrong somewhere to derail the progress due to mismanagement, wrong administration and last, but not the least, rampant corruption among the officials who were involved in the running of the mills. Its workers say that the decline of Adamjee began after Bangladesh broke away from Pakistan and took over the mill from the Adamjee Group.
Reasons behind Adamjee Jute Mill’s end
The death of...