Farewell
FROM PAGE 1
With just Tk 42 Rahman set off on his entrepreneurial journey at the age of 10 and over the next few decades, he went on to establish a business empire -- comprising 40 companies ranging from commodities such as flour, sugar, edible oil, feed and rice milling to economic zones and hi-tech park -- with an annual turnover of Tk 35,000 crore.
“He was a self-made man,” said Biswajit Saha, director of corporate and regulatory affairs at the City Group and a longtime associate of Rahman.
At the tender age of around 10, he, alongside his elder sibling, set up a grocery shop in front of their home in the capital’s Gendaria with capital provided by their father. The shop yielded a daily profit of Tk 30 from a daily turnover of Tk 150.
“In facing the circumstances of my life, there was no option to retreat, and there existed no alternative path to advance. With a family of 11 siblings, encompassing their financial needs alongside those of my own, the imperative to excel became an unwavering necessity,” Rahman said in an interview.
But a bigger dream lay dormant within him upon witnessing an oil mill operated by a Pakistani national. “If they can establish a mill coming from Pakistan, why can’t I do the same in my country?”
Then on February 6, 1972, at a cost of Tk 52,000 he opened his oil mill, which was the culmination of three years of planning and efforts. And with this began City Group’s foray into commodity business on a full-fledged basis.
Today, City Group is major player in the edible oil, flour, sugar, rice and lentils alongside sprawling conglomerates like S Alam Group, Meghna Group of Industries, Pran, ACI, Square and so on.
“By ensuring quality, we managed to sell products at a profit,” Rahman said.
From oil mill, Rahman ventured into wholewheat, flour and semolina under the brand name of Teer.
In 1991, as part of the backward integration, City Group established Hasan Printing and Packaging and Hasan Containers.
City Navigations started its journey in 2000 to support carriage of raw material from mother vessels to production units. Now, 37 lighterage vessels, each having capacity of 3,000-3,500 metric tonne, are now in operation.
In 2001, City PET industries started its operation in 2001 and at the same time a new pure drinking water brand named JIBON was introduced. In 2004, Teer Feed was launched to supply poultry, cattle and fish feeds.
Then in 2006, City Sugar Industries, the country’s largest sugar refinery unit, was established.
In 2018, City Group received a licence from Bangladesh Economic Zone Authority to set up ‘City Economic Zone’ on 78 acres of land in Rupshi, Narayanganj. In 2021, the group set up fully automated Rupshi Flour Mills.
In 2010, City Group purchased 50 percent stakes of Somoy TV, which holds the distinction of being the most subscribed Bangladeshi YouTube channel and the first YouTube channel to get the Diamond Play Button. Rahman served as the chairman of Somoy TV.
The industrialist was also committed to social responsibility. In Gendaria, he oversaw the construction of the state-of-the-art Asghar Ali Hospital to cater to the healthcare needs of the residents of Old Dhaka.
Prime Minister Sheikh Hasina, Commerce Minister Tipu Munshi and Mahbubul Alam, president of the Federation of Bangladesh Chambers of Commerce and Industry, expressed their condolences over the death of the eminent industrialist.
He was laid to rest at the capital’s Jurain graveyard in the evening yesterday.