Taskforce on sick industry yet to start operation
Monday, 17 May 2010
S M Jahangir
An official initiative to address the longstanding problems of the country's sick industries becomes uncertain primarily because of lack of coordination among the ministries concerned, officials said.
The ministry of industries recently constituted a new taskforce to look into the sick industry-related issues, but it is yet to start functioning for absence of necessary guidelines from the government, a senior official familiar with the process told the FE.
Headed by an additional secretary of the industry ministry, the main job of the 11-member taskforce is to prepare a draft law on sick industries and scrutinise their actual status, the circular said.
Besides, a separate body under the directives of the finance ministry is also working simultaneously on the problems of sick industrial units, an official said.
Before the formation of the taskforce, the industry ministry had also formed two separate committees on sick industries.
Headed by a joint secretary of industry ministry, the responsibility of the first committee was to facilitate drafting of a law on sick industries.
And the other was responsible to make a list of actual sick units and also identify their problems, a senior official said.
But all the committees, according to official sources, have made little progress in discharging their jobs, an official close to the process said.
Although the second committee had convened two or three meetings, they are yet to set the criteria on sick industries, the official said.
Besides, the body missed a two-month deadline time to submit its recommendations to the recently formed taskforce, officials said.
According to officials, the key purpose of forming the taskforce and two separate bodies were to help the government take necessary decisions on the country's sick industries, either for their rehabilitation or bailout," said the official.
They also said the committees have been formed against the backdrop of frequent demand from the owners of the sick units and country's business leaders.
Owners of sick industries and the country's different trade bodies including the Federation of Bangladesh Chambers of Commerce and Industry (FBCCI) have long been demanding of the government for bailing out the sick industries.
An official initiative to address the longstanding problems of the country's sick industries becomes uncertain primarily because of lack of coordination among the ministries concerned, officials said.
The ministry of industries recently constituted a new taskforce to look into the sick industry-related issues, but it is yet to start functioning for absence of necessary guidelines from the government, a senior official familiar with the process told the FE.
Headed by an additional secretary of the industry ministry, the main job of the 11-member taskforce is to prepare a draft law on sick industries and scrutinise their actual status, the circular said.
Besides, a separate body under the directives of the finance ministry is also working simultaneously on the problems of sick industrial units, an official said.
Before the formation of the taskforce, the industry ministry had also formed two separate committees on sick industries.
Headed by a joint secretary of industry ministry, the responsibility of the first committee was to facilitate drafting of a law on sick industries.
And the other was responsible to make a list of actual sick units and also identify their problems, a senior official said.
But all the committees, according to official sources, have made little progress in discharging their jobs, an official close to the process said.
Although the second committee had convened two or three meetings, they are yet to set the criteria on sick industries, the official said.
Besides, the body missed a two-month deadline time to submit its recommendations to the recently formed taskforce, officials said.
According to officials, the key purpose of forming the taskforce and two separate bodies were to help the government take necessary decisions on the country's sick industries, either for their rehabilitation or bailout," said the official.
They also said the committees have been formed against the backdrop of frequent demand from the owners of the sick units and country's business leaders.
Owners of sick industries and the country's different trade bodies including the Federation of Bangladesh Chambers of Commerce and Industry (FBCCI) have long been demanding of the government for bailing out the sick industries.