Commerce and Industries, Minister Tofail Ahmed said both the public and the private sector were playing a pivotal role in implementing the country's private sector-led growth strategy.
In an interview with UNB on the government's three-year performance in expanding trade and industry in the country. he said the private sector's positive attitude backed by the government's appropriate policies spurred industrial activities.
"It is not true that industrial sector got less attention. Rather, during the three years of Awami League rule the industrial sector has been given a er attention," the minister
"Both the government and the private sector work in close cooperation for industrial growth." he added.
The Commerce and Industries Minister said the private sector leaders were involved in important decisions including formulation of all policies relating to trade and industry.
Even to maintain exports during the recent devastating floods, the government took all the decisions in consultation with the private sector, he said.
Tofail said a task force with representatives from private sector monitored trading, industries and market prices. Besides. he said advisory committee with leaders of business community, "we (ministry) meet every two to three months to address problems and find out solutions."
“As a result, the industrial
growth would be satisfactory this year." he said.
The minister said the government was playing the role of facilitator, not of a businessman and for that last year's industrial growth reached 8.1 per cent that, he said, was more than under the BNP regime.
Giving a break-up, he said the growth of large industries was 10.1 per cent and of small ones 4.2 per cent.
On the question of setting up of new industrial units, he said many new industries especially in the textile sector went into operation during the present government.
The minister mentioned that for diversification of export. the country received assistance from the World Bank. Under the Massive Grant Fund (MGF). if exporters invest Tk 50 lakh, the government will give them Tk 50 lakh more.
He said a board would be formed, headed by a person from the private sector, to see that the genuine people get loan.
He added: "We are making a comprehensive action plan for industrialisation."
Listing some success of the government in this sector. Tofail said: "We successfully resolved the GSP problem, in the commerce ministers' meeting in Dhaka and Islamabad the rules of origin have been revised and we will get facilities in trading with our neighbours."
He said: "Bangladesh has been playing a very important role as coordinator and spokesman of the LDCs. We hope to get access-without duty
to developed countries." ■
About the new industrial policy, the minister terried it unique and said through > this not only the foreign investors, but local investors would get facilities.
"Investment package is1 attractive, and we have allpwed 100 per cent foreign equity. Total investment is protected by the act of parliament, and'profits and dividends can be taken out by investors." he said.
Attractive incentives would be offered to encourage investment in the northern parts of the country, Tofail said.
Refuting the allegation that the computer sector is not properly handled, he said the government had taken a massive plan to make the sector the second biggest export-earner sifter the ready-made garments.
The minister said the government had taken a numbw of important and crucial decisions for speedy growth of the computer sector.
The sector has been identified as thrust sector and ex-Sected to grow rapidly," he said oping that export earning would reach at least 5 billion US dollars within next five years.
"The present earning fropi this sector is about 100 million US dollars," he said quoting Information from the Export Promotion Bureau and the. Bangladesh Computer Associar tion.
Tofail said Bangladesh would soon be linked with the fibre optical cable that has gone through the seabed of Bay of
The other necessary steps like enacting an intellectual property act and establishing V-sat connections would also be materialised soon, he hoped.
Blaming the previous government for neglecting the growth of the sector, the commerce and industries minister said the government was ready to do whatever necessary for rapid development of this highly prospective sector.
Replaying to an allegation of "no business" in the country, he vigorously said it was the time when people were doing real business.
Tofail alleged that one-third ' of the total loans given from the banks has no trace because most of those were granted on consideration of party affiliation and closeness with the high-ups.
"But. now we have stopped it. The real businessmen are getting money and the frauds are not. It is not true that the banks are not providing money to the industrial sector," he said.
Pointing to the achievements of nis ministry, Tofail specially mentioned the government steps to continue ex-Grts during the floods, formu-ion of the five-year export and import policy, industrial policy, resolving the GSP problem and becoming leader of the LDCs at the World Trade Organisation (WTO).
Replying to a question on flow of foreign direct investment (FDI), the minister said he was satisfied with the present flow of foreign investment in the country.