Divestment of SoEs to continue despite opposition: PC chief
Wednesday, 21 April 2010
FE Report
The Privatisation Commission (PC) Chairman, Mirza Abdul Jalil, Tuesday said divestment of state-owned enterprises (SoEs) would continue despite opposition from a number of ministers.
"Mr Latif Siddiqui and others were speaking against privatisation of SoEs. But I think these were their own opinions. We'll continue with the divestment procedures…", Mirza Abdul Jalil told reporters at the end of the 52nd meeting of the commission at his office in Dhaka.
The meeting approved proposals of selling government-owned shares of Dhaka Match Factory and Salatin Syndicate.
It approved sale of government-owned 30 per cent share worth Tk 25.5 million of Dhaka Match Factory and 20 per cent share worth Tk 42.8 million of Salatin Syndicate to its majority stakeholders.
The meeting also decided to re-tender for the disinvestment of Rangamati Textiles Mills Ltd, as the previous quotations became mired in controversy.
The PC chief said the government has enacted laws on privatisation of the SoEs and the commission was working in line with government polices on divestment of the public industries.
"There was stagnancy on privatisation of the SoEs. I think the stagnation is over," Mr Jalil added.
He also said the present government had pledged divestment of loss-making SoEs in its election manifesto.
Mr Jalil said a total of 75 SoEs had so far been privatised since 1993 and they have employed 87,451 workers. The manpower of the government entities were 30,800 before the divestment.
Shafiqur Rahman MP, Tipu Munshi MP, Md Abdus Sattar MP, Mahbub Ara Gini MP, former chairman of Bangladesh Red Crescent Society Sheikh Kabir Hossain, PC members Md Mohsin, Mridul Bhattacharya and representatives of the ministries of industries, finance, textiles and commerce were present at the meeting.
The Privatisation Commission (PC) Chairman, Mirza Abdul Jalil, Tuesday said divestment of state-owned enterprises (SoEs) would continue despite opposition from a number of ministers.
"Mr Latif Siddiqui and others were speaking against privatisation of SoEs. But I think these were their own opinions. We'll continue with the divestment procedures…", Mirza Abdul Jalil told reporters at the end of the 52nd meeting of the commission at his office in Dhaka.
The meeting approved proposals of selling government-owned shares of Dhaka Match Factory and Salatin Syndicate.
It approved sale of government-owned 30 per cent share worth Tk 25.5 million of Dhaka Match Factory and 20 per cent share worth Tk 42.8 million of Salatin Syndicate to its majority stakeholders.
The meeting also decided to re-tender for the disinvestment of Rangamati Textiles Mills Ltd, as the previous quotations became mired in controversy.
The PC chief said the government has enacted laws on privatisation of the SoEs and the commission was working in line with government polices on divestment of the public industries.
"There was stagnancy on privatisation of the SoEs. I think the stagnation is over," Mr Jalil added.
He also said the present government had pledged divestment of loss-making SoEs in its election manifesto.
Mr Jalil said a total of 75 SoEs had so far been privatised since 1993 and they have employed 87,451 workers. The manpower of the government entities were 30,800 before the divestment.
Shafiqur Rahman MP, Tipu Munshi MP, Md Abdus Sattar MP, Mahbub Ara Gini MP, former chairman of Bangladesh Red Crescent Society Sheikh Kabir Hossain, PC members Md Mohsin, Mridul Bhattacharya and representatives of the ministries of industries, finance, textiles and commerce were present at the meeting.