More than 50,000 light engineering (LE) factories across the country with Tk 200 billion turnover are overlooked by the government, the sector insiders said.
According to them, despite declaration of the sector a thrust one and enlistment of it as a potential export earner after the low-tech readymade garment (RMG) by the government, there is no headway until now.
The high-value LE products are saving a vast amount of money as import substitute for automobile and industrial spares and other light spares.
Technical innovation is also happening in the sector and the sector can earn a large amount of money by exporting products developed and manufactured by its own to African and Middle Eastern countries, the sources said.
In spite of recognition of the sector as a thrust one, the industrialists are yet to get training in capacity building and supports in access to finance.
A senior official in the ministry of industries said, "As the sector is under the small and medium enterprise (SME), we are trying to help them under the criteria of SMEs."
Chairman of the Appropriate Technology Department of BUET (Bangladesh University of Engineering and Technology) Prof Kamal Uddin told the FE that it is true that LE sector is under the SME but it should be treated as a special one because it is a high-value sector and its export potentiality is also high.
A leader in the LE industries association alleged that the bureaucrats do not understand the potentiality of the sector.
He said, "I myself have talked with many officials and held a lot of seminars and meetings but the result from the government side is zero."
One of the entrepreneurs at Dholaikhal said, "We are invited by many organisations to meetings. We have to listen to the officials there and they made commitment to us at the meetings to support us. But in last ten years there has been no tangible help for us."
The entrepreneurs claimed that collateral problem is their main problem in getting bank loan and as they do not have licences and other papers, so they are not getting bank loan.
Despite having vast export earning prospects of this sector, the government is yet to feel the pulse, they said.
Another insider said more than 50,000 factories across the country are developing and manufacturing a good number of LE products the import value of which is three times more than local value.
A factory owner said if the government supports the sector, the existing turnover would be five times more.
He said in Japan the LE was once the mother industry and after developing this industry they are now world's number one heavy engineering nation.
In Bangladesh it could also be a big industry if it gets support. But it is frustrating that despite having the already developed skilled manpower, the government's support is still nil for the sector, he added.
© 2024 - All Rights with The Financial Express
