Govt says 'no' to Rupali Bank privatisation proposal

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The Council of Advisers committee on economic affairs Tuesday turned down a proposal to handover the state-run Rupali Bank back to the Privatisation Commission again to process a divestment proposal from a Japanese company, reports UNB.
"The bank will maintain its status quo as the meeting considered it won't be appropriate to take a decision in this regard at this moment," Finance Adviser Dr Mirza Azizul Islam told reporters after the committee meeting at the Cabinet Division conference room.
He said it would not be possible for the present government to look into the financial strength and technical expertise of the Japanese company.
A Japanese company recently proposed the Privatisation Commission to buy the shares of Rupali Bank, which was earlier returned to its owner, the government, after a Saudi investor stepped back at the final stage of takeover.
The Finance Adviser said the meeting decided that the ministries concerned would list state-owned enterprises (SOEs) under their administration within March 31 next year and submit the list to the government for review to prepare a fresh list.
He said the meeting in another decision exempted Bangladesh Petroleum Corporation (BPC) from any state-to-state contract for importing fuel oil considering the reality that most of the oil exporters are corporate entities.
Dr Aziz informed that the Food Directorate has also been exempted from 10 per cent performance security deposit to purchase 15 million (1.5 crore) pieces of jute bags from Bangladesh Jute Mills Corporation as both the organisations are public entities.