Govt throws focus on sick industries
Saturday, 16 January 2010
S M Jahangir
The government has constituted a fresh task force to address the long-standing problems of the country's sick industries.
"An overhauled task force has been formed in order to help resolve the sick industries' problems, recasting the previous one," an industries ministry circular said recently.
Headed by an additional secretary of the industries ministry, the main job of the task force is to prepare a draft law on sick industries and scrutinise their actual status, the circular said.
The 11-member task force has been empowered to co-opt any person, institute or expert in it, it mentioned.
On November 11 last, the industries ministry formed a task force on sick industries to look into the problems of the country's sick industrial units, official sources said.
Apart from formation of the new task force, the industries ministry through another circular constituted two separate committees on sick industries.
Headed by a joint secretary of the industries ministry, the first committee has been formed to facilitate drafting a law on sick industries.
And the other one will make a list of actual sick units and also identify their problems, a senior official said.
Besides, the body has been given a two-month time to submit its recommendations to the newly formed task force, he mentioned.
The official also said: "Formation of the task force and two separate bodies will help the government take necessary decisions on the country's sick industries, either for their rehabilitation or bailout," said the official.
Official sources, however, said the committees have been formed against the backdrop of frequent demands from the owners of the sick units and the country's business leaders.
Owners of sick industries and the country's different trade bodies including the Federation of Bangladesh Chamber of Commerce and Industries (FBCCI) have long been demanding of the government to bail out the sick industries.
An FBCCI delegation, headed by its president Annisul Haq, recently met with the finance minister AMA Muhith and submitted a list of 147 sick units and made some proposals for settling their problems.
The proposals include suspension of 'Artho-rin Adalat' cases against the sick industry owners and taking steps for settlement of the outstanding debts that the sick industries owe to banks.
Leaders of the Bangladesh Sick Industries Association (BSIA), led by its president Chowdhury Muhammad Ishak, at a recent meeting also put forward a 10-point charter of proposals including bailing out of the sick industrial units.
The government has constituted a fresh task force to address the long-standing problems of the country's sick industries.
"An overhauled task force has been formed in order to help resolve the sick industries' problems, recasting the previous one," an industries ministry circular said recently.
Headed by an additional secretary of the industries ministry, the main job of the task force is to prepare a draft law on sick industries and scrutinise their actual status, the circular said.
The 11-member task force has been empowered to co-opt any person, institute or expert in it, it mentioned.
On November 11 last, the industries ministry formed a task force on sick industries to look into the problems of the country's sick industrial units, official sources said.
Apart from formation of the new task force, the industries ministry through another circular constituted two separate committees on sick industries.
Headed by a joint secretary of the industries ministry, the first committee has been formed to facilitate drafting a law on sick industries.
And the other one will make a list of actual sick units and also identify their problems, a senior official said.
Besides, the body has been given a two-month time to submit its recommendations to the newly formed task force, he mentioned.
The official also said: "Formation of the task force and two separate bodies will help the government take necessary decisions on the country's sick industries, either for their rehabilitation or bailout," said the official.
Official sources, however, said the committees have been formed against the backdrop of frequent demands from the owners of the sick units and the country's business leaders.
Owners of sick industries and the country's different trade bodies including the Federation of Bangladesh Chamber of Commerce and Industries (FBCCI) have long been demanding of the government to bail out the sick industries.
An FBCCI delegation, headed by its president Annisul Haq, recently met with the finance minister AMA Muhith and submitted a list of 147 sick units and made some proposals for settling their problems.
The proposals include suspension of 'Artho-rin Adalat' cases against the sick industry owners and taking steps for settlement of the outstanding debts that the sick industries owe to banks.
Leaders of the Bangladesh Sick Industries Association (BSIA), led by its president Chowdhury Muhammad Ishak, at a recent meeting also put forward a 10-point charter of proposals including bailing out of the sick industrial units.