Govt to frame policy for sick industries: Muhith
Friday, 4 December 2009
FE Report
Finance Minister AMA Muhith said Thursday the government will formulate a policy for resolving the long-standing problems of the country's sick industries.
"We will frame a policy to deal with the issues relating to sick industries … We have already formed a committee in this connection," Mr. Muhith told reporters after a meeting with a delegation of Bangladesh Sick Industries Association (BSIA), led by its President Chowdhury Muhammad Ishaq, at the Secretariat.
During the meeting, the BSIA made a 10-point proposal including bailing out of the sick industrial units.
The finance minister said the proposals the association made would be accommodated in the proposed policy.
"We are thinking about what to do for the sick industries on the basis of the recommendations of both the present and previous committees, he said.
Responding to a query as to whether the government would come forward to rehabilitate the private sick industries, Mr. Muhith said, "They (sick industries) have to do it by themselves."
The finance minister further said the sick industries, which could not stand on their own feet in 15 years, need not survive.
"I am disheartened to know about the existence of an association of sick industries' in the country," said Mr Muhith.
When his attention was drawn to the just-concluded World Trade Organisation (WTO) ministerial conference in Geneva, Mr. Muhith said, "It is an inclusive meeting … Bangladesh commerce minister is expected to brief on the meeting's outcomes."
After discussing the problems of the sick industries in details, the BSIA has placed the '10-point proposal' before the finance minister, seeking necessary government action for their early solution.
Meanwhile, a delegation of the Bangladesh C. R. Coil Manufacturers and Exporters Association also submitted a memorandum to the finance minister seeking protection of the industry from, what they called, a syndicate of unscrupulous traders/ importers.
The Association sought the finance minister's support for imposition of customs and supplementary duties, both at the rate of 25 per cent, on import of secondary quality HR and CR coils.
It also suggested that the government should also impose the same rate (25 per cent) of customs and supplementary duties on import of prime and secondary quality CR coils, GP sheet and plain sheet.
Finance Minister AMA Muhith said Thursday the government will formulate a policy for resolving the long-standing problems of the country's sick industries.
"We will frame a policy to deal with the issues relating to sick industries … We have already formed a committee in this connection," Mr. Muhith told reporters after a meeting with a delegation of Bangladesh Sick Industries Association (BSIA), led by its President Chowdhury Muhammad Ishaq, at the Secretariat.
During the meeting, the BSIA made a 10-point proposal including bailing out of the sick industrial units.
The finance minister said the proposals the association made would be accommodated in the proposed policy.
"We are thinking about what to do for the sick industries on the basis of the recommendations of both the present and previous committees, he said.
Responding to a query as to whether the government would come forward to rehabilitate the private sick industries, Mr. Muhith said, "They (sick industries) have to do it by themselves."
The finance minister further said the sick industries, which could not stand on their own feet in 15 years, need not survive.
"I am disheartened to know about the existence of an association of sick industries' in the country," said Mr Muhith.
When his attention was drawn to the just-concluded World Trade Organisation (WTO) ministerial conference in Geneva, Mr. Muhith said, "It is an inclusive meeting … Bangladesh commerce minister is expected to brief on the meeting's outcomes."
After discussing the problems of the sick industries in details, the BSIA has placed the '10-point proposal' before the finance minister, seeking necessary government action for their early solution.
Meanwhile, a delegation of the Bangladesh C. R. Coil Manufacturers and Exporters Association also submitted a memorandum to the finance minister seeking protection of the industry from, what they called, a syndicate of unscrupulous traders/ importers.
The Association sought the finance minister's support for imposition of customs and supplementary duties, both at the rate of 25 per cent, on import of secondary quality HR and CR coils.
It also suggested that the government should also impose the same rate (25 per cent) of customs and supplementary duties on import of prime and secondary quality CR coils, GP sheet and plain sheet.