The government has published a gazette notification on introduction of the President's Industrial Awards for the first time in a bid to give recognition to entrepreneurs for promoting industrial development and innovation.
The gazette notification was published recently with the complete procedures of the awards, officials of Ministry of Industries (MoI) said.
A total of 18 industrialists under six categories (three from each) will be awarded the 'President Award for Industrial Development (PAID)' which will be given between November and December every year.
MoI officials said the entrepreneurs or organisations from large, medium, small, cottage and hi-tech industries will be given the awards according to the Industrial Policy 2010.
"Though the government gives many awards in different categories, the PAID is a new concept in Bangladesh," a MoI official said.
Officials said the MoI will invite applications from the businesses for the awards between March-April every year and the awardees will be nominated considering their business condition, annual turnover, import condition, considering the ratio of local raw materials' use, employment generation, corporate social responsibilities and environment safety initiatives.
The business house that will apply for the award should be established in Bangladesh and all business activities including tax payment records should have to be up-to-date.
The aspirant industrial units should apply to the MoI in a specific application form every year or any third person on behalf of industrial units could apply for the awards and then MoI will send the application to the evaluation committee.
According to the gazette notification, a 16-member evaluation committee will finalise primary list for the awards. Finally, another 12-member committee led by Industries Minister will finalise the 18 industrial units or person for the award.
The final list of the awardees will be published through a gazette notification every year, officials said.
The awardees will receive a crest and a certificate in a gala reception under the auspices of MoI and Industries Minister will preside over the programme.
