The Bangladesh Forest Industries Development Corporation has closed its loss-making timber extraction unit in Kaptai.
The unit, which has debts of Tk130m, was shut under the order of the ministry of environment and forests, with the loss of 204 jobs.
It was set up in 1960 to extract timber from forests in the Chittagong Hill Tracks region to supply government and non-government organisations. But due to a lack of up-to-date machinery the unit was in a poor condition and suffered recurring losses.
