M. A. Sattar

Sattar was born on March 1, 1925, to Tofazzal Hossain and Hasna, a Bengali Muslim family in Durgapur, Rangpur, Bengal Presidency, British India (now Bangladesh). After completing his education in Rangpur and Kolkata, he entered the jute trade.[5]

After the Independence of Bangladesh, the Bangladeshi government added socialism to the constitution of Bangladesh and nationalized most industries, which resulted in Sattar losing ownership of his industries, including Sattar Jute Mills. The Jute Mills were placed under the Bangladesh Jute Mills Corporation.[14][15]

Sattar organized bengali jute mill owners and formed Bangalees Jute Mills Entrepreneurs Society Ltd (BJMES) to struggle for the return of the nationalized jute and cotton mills to their former Bengali owners. BJMES demanded compensation of around Tk 90 million for the 34 jute mills that were previously owned by bengali entrepreneurs and were nationalized by the Bangladesh government.[16]

During a press conference in Dhaka on March 12, 1974, Mr. M.A. Sattar pointed out that the bengali entrepreneurs had continued to serve as heads of their mills after liberation until the boards of directors and managing director positions were abolished. However, their roles and responsibilities were never clearly defined, and their expertise was not effectively utilized.[16]

Sattar strongly believed that jute mills should be operated on commercial principles rather than being treated as government departments.[17] He proposed the establishment of an advisory council for all previously bengali-owned mills, as well as a managing committee for each enterprise. The managing committee would consist of a representative from financial institutions, two from the entrepreneurs, and one from the workers community.[16]

As chairman, Sattar presented arguments highlighting the significant losses and damage caused by nationalization in various sectors of the economy, including jute mills and the cotton textile industry.[17] They provided statistics showing a decline in annual output per hessian loom from 16.4 tons in 1969/70 to 10.8 tons in 1975/76. Similar decreases were observed in carpet backing and sacking looms. These statistics served to illustrate the adverse effects of nationalization on sectors that are typically operated on commercial grounds.[18]

During this nationalization period, most industries suffered devastating losses due to rising costs, the devaluation of the taka, and internal corruption. The Jute industry never recovered and incurred heavy operating losses throughout the coming decades.[15]

In 1982, the implementation of the New Industrial Policy (NIP) marked a significant milestone in the privatization efforts and brought about notable changes in the industrial policy landscape. As part of these reforms, 27 textile mills and 33 jute mills, including Sattar Jute Mills were returned to their original owners.[5][19] During the hand-over negotiations, buyers attempted to limit their liability to the period before 1972, stating they should not be held responsible for the liabilities built up during 1972-82, when the firms were operated by the government. After prolonged and frequently bitter debate, they were ultimately forced to accept responsibility for all accumulated liabilities and to absorb the existing workforce under terms that prohibited termination, regardless of prevailing economic and market conditions after President Ershad presented the buyers with a "take it or leave it" ultimatum. Faced with this ultimatum, Sattar and the mill owners felt they had no realistic choice but to accept the terms, even though they believed the price demanded was unreasonably high.[20][21][5] It was during this time Sattar entered politics.

M.A. Sattar was involved in social and cultural activities in his local community, and engaged in philanthropic activities. He was a patron of several educational institutions and social organizations in his constituency. In 1967, Sattar was elected as the first Bengali president of Narayanganj Club.[26]

In 1980, Sattar established a secondary school named Sattar Jute Mills Model High School in Rupganj, Narayanganj. In the beginning it was established for the children of officials and workers working in the jute mills, but over time the children of local residents also got the opportunity to read in this school. The school has been developed further with a 4-storey modern building and a vast playground by the new landlords. He also established a mosque for prayer near the school.[6]

To pay off the debts of the jute mills, he had to sell most of his assets throughout the years. In 2005, he sold Sattar Jute Mills, including the full-fledged factory buildings, warehouses, and remaining 55 acres with a riverfront to industrialist Anisur Rahman Sinha, the owner of the Sinha Group.[27]

M.A Sattar died on June 5, 2009, at the age of 84.