Light engineering sector holds tremendous prospect for the country because it is not simply an industrial venture but also a provider for factories, industries and automobiles. If Dholaikhal's manufacturing ingenuity is any guide, there should not be any dearth of talent and expert hands required for taking the sector ahead. Sure enough, at the individual level a number of youths with a knack for technical innovation have come up with models of machines and implements that perform at a par or even better than the imported ones. In some cases, a few have even modelled completely new devices to accomplish amazing tasks. In all such cases, though, they have faced the problem in setting up plants for mass production. Not many in the private sector or the public sector have come up with the necessary investment and patronage.
Against such a backdrop the arrangement of a day-long seminar on a study titled, "Bank Finance in Light Engineering Small Enterprises in Bangladesh: Challenges and Possible Innovation" conducted by a team of the Bangladesh Institute of Bank Management can be considered a positive step. The concern that credit extended to the sector falls in wrong hands with no possibility of recovery is not misplaced. But this happens because of an erroneous system of lending and political interference in the process. Genuine enterprises and innovative individuals with proven accomplishment to their credit are not to blame for this. It is the systemic weakness and inefficiency of the lending authorities and scepticism on the part of government authorities that have actually constrained the growth of domestic light engineering.
When a youth or a farmer devices a machine for planting seedlings or a small plant for producing condensed gas for cooking from dung, they do not find investors or loans to go for mass production or expansion. This situation should change. At the seminars bankers have emphasised the need for innovation and modernisation of the sector in order to stay in competition. But when innovation and development are not encouraged by administrative and financial support, how can the sector take off? In this country import is considered a better option because the profit margin is sure to be big enough for businessmen to get richer within a short time. Industrial venture is not without risks and marketing of domestic machines and accessories is likely to be tough initially.
Hence, there is a need for an industrial and manufacturing cell to make an authentic assessment of devices innovated or developed by local techno-enthusiasts, engineers and technicians. Comprising technical experts, scientists and financial analysts, the cell should form teams to assess different machines, implements and plants in order to find if those can be produced profitably. It can even suggest improvement. This should be followed by a marketing drive for promotion of the locally manufactured set-ups. The end should justify the means in terms of finance and utility.
A case for light engineering
FE Team | Published: August 27, 2015 00:00:00 | Updated: November 30, 2026 06:01:00
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