Mirza Aziz sees SOEs a massive burden on nat'l exchequer
Monday, 28 July 2008
State-owned enterprises (SOEs) have been a massive burden on the national exchequer because of their explicit or implicit subsidies, said Finance Adviser Mirza Azizul Islam at a programme in the city Sunday.
The government has recently restructured many of the entities where the government has substantial shares. He cited the examples of formation of companies in the energy sector, Biman, Bangladesh Telegraph and Telephone Board (BTTB), and the three government banks. BTTB has now been converted into Bangladesh Telecommuni-cations Company Ltd (BTCL).
He, however, said the success of the corporatised units would depend on how the boards of the corporatised units would function, said a press release.
He was speaking as the chief guest at the 'capacity building programme on the role and responsibilities of the board members of SOEs of Bangladesh', organised by the Bangladesh Enterprise Institute (BEI) in partnership with Agrani Bank Limited.
The objective of the programme was to discuss the governance structure of state-owned enterprises' (SOEs) boards in Bangladesh, further enhance knowledge on the role and responsibilities of board members, and recommend key measures to strengthen the governance of the boards.
Siddiqur Rahman Choudhury, chairman, Agrani Bank Limited, attended the programme as the special guest while Farooq Sobhan, president, BEI, chaired the meeting.
Siddiqur Rahman in his speech said corporatisation and restructuring of SOEs are the right step in the right direction. He said the boards of SOEs should be capable of making independent judgments.
Sobhan in his speech raised several key issues concerning the boards of SOEs such as continuity and the ability of the members to dedicate adequate time and commitment for the board meetings.
He, therefore, stressed the need for independent directors on the Boards of SOEs in Bangladesh.
The government has recently restructured many of the entities where the government has substantial shares. He cited the examples of formation of companies in the energy sector, Biman, Bangladesh Telegraph and Telephone Board (BTTB), and the three government banks. BTTB has now been converted into Bangladesh Telecommuni-cations Company Ltd (BTCL).
He, however, said the success of the corporatised units would depend on how the boards of the corporatised units would function, said a press release.
He was speaking as the chief guest at the 'capacity building programme on the role and responsibilities of the board members of SOEs of Bangladesh', organised by the Bangladesh Enterprise Institute (BEI) in partnership with Agrani Bank Limited.
The objective of the programme was to discuss the governance structure of state-owned enterprises' (SOEs) boards in Bangladesh, further enhance knowledge on the role and responsibilities of board members, and recommend key measures to strengthen the governance of the boards.
Siddiqur Rahman Choudhury, chairman, Agrani Bank Limited, attended the programme as the special guest while Farooq Sobhan, president, BEI, chaired the meeting.
Siddiqur Rahman in his speech said corporatisation and restructuring of SOEs are the right step in the right direction. He said the boards of SOEs should be capable of making independent judgments.
Sobhan in his speech raised several key issues concerning the boards of SOEs such as continuity and the ability of the members to dedicate adequate time and commitment for the board meetings.
He, therefore, stressed the need for independent directors on the Boards of SOEs in Bangladesh.