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SOEs need to be energised
The state-owned enterprises (SOEs) should improve efficiency and dynamism to contribute their due share to achieve the projected industrial growth of 6.01 per cent for fiscal 1997-98. reports UNB.
This was the opinion of a review meeting on "Problems and Probable Solutions of the Public Sector Industrial Development". held here yesterday with Commerce and Industries Minister Tofael Ahmed In the chair.
The meeting was informed that the total ADP allocation for 1997-98 is Tk 29.091 crore, of which 44 per cent is for the public sector and the rest for private sector.
Out of the public sector allocation of Tk 12.800 crore, the share of industrial sector is only 1.17 per cent (Tk 150 crore).
Bangladesh Chemical Industries Corporation (BCIC). the main contributor to the public sector industries, could utilize only Tk 34 crore from the ADP allocation. Of this. Tk nine crore would be BCIC's own contribution.
The meeting observed that
the target of public sector Industrial growth, which has been fixed for this year, would be difficult to achieve, mainly due to shortage in ADP allocation.
But country’s overall industrial growth is being computed through the summation of growth in the sectors of mining and quarrying, industrial production. including Jute and textile. construction, transportation. infrastructure, including road, and energy production and other services sectors.
Conceding the nominal share of public sector corporations to overall industrial growth, the commerce and industries minister said in the era of globalisation and liberalisation of trade and investment, government has given priority to the private sector development.
At the same time, the government is very sincere to make the SOEs competitive and profitable. he said, adding the government is interested to up new industries on Joint-venture.
Referring to the directive of Prime Minister Sheikh Hasina regarding setting-up of new in-
dustries in the public sector. Tofael Ahmed said, "We've huge reserve of natural gas and its ex traction would be started from coming April in full swing.
"We will set up gas-based industries. including urea and diammonium phosphate plants, to export more value-added products after meeting the local demand."
The minister addedfWe have to modernize the SOEs with the limited allocation. As such, sincerity, honesty and missionary real should be the precondition to achieve the target.'
The meeting discussed threadbare the on-going production. maintenance and modernization programmes in the SOEs under the Industries Ministry.
The discussion specially focussed on the future of the pro-fosed Shahjalal Fertilizer actory. DAP plant and the BMRE of Karnafuli Paper Milla and Sylhet Paper and Pulp Mills.
Industries Secretary M Akhter All. BCIC chairman M Anwaru) Haque and officials of
the Industries ministry and sector corporations attended the meeting;