Bangladesh Small and Cottage Industries Corporation (BSCIC) created employment opportunity for 1.08 lakh people and Tk 707.62 crore was invested in this sector during 2003-2004 fiscal year.

During this period, 19,919 small and cottage industries were set up and financial and other assistance were provided to 16,964 running units under BSCIC.

BSCIC has 64 industrial estates throughout the country and establishment of 18 more industrial estates is under implementation. It was disclosed yesterday at the annual general meeting (AGM) of BSCIC held at the conference room of Bangladesh Chemical Industries Corporation (BCIC).

Industries Minister Matiur Rahman Nizami was the chief guest of the two-day AGM that was attended by BCIC Chairman Major General (Retd) Imamuzzaman Chowdhury. BSCIC Chairman M Solaiman Khan presided over the function.

At least 200 BSCIC officials from across the country attended the AGM.

The minister called upon the BSCIC field level officials to achieve skill and specialization to provide quality services to the private entrepreneurs for the sake of rapid industrialization in the country.

He said, "A task force has been working and will make recommendations very soon on the development of small and cottage industries sector of the country".

The industries minister said out of four sector corporations under the ministry only BSCIC is responsible for facilitating industrialization in the private sector. The formulation of "Industrial Policy 2004" is at the end, he added.