End of state-owned jute mills: why close when you can reform?

So it's official now. The government is going to shut down all 25 state-owned jute mills operated by Bangladesh Jute Mills Corporation (BJMC) and lay off about 25,000 workers involved with them. The prime minister approved the decision on Thursday, according to UNB, putting an end to speculations following an announcement by the textiles and jute minister to that effect last