The New Nation - Internet Edition

Staff Reporter

Privatisation Commission will look for a new buyer for the state-owned Rupali Bank if the Saudi Prince fails to complete all necessary steps to take over the commercial bank within next month.

While speaking at a seminar on 'Privatisation in Bangladesh and Public-Private Partnership in Public Undertakings' organised by Dhaka Chamber of Commerce and Industry (DCCI) in the city yesterday, Commission Chairman Md Abu Solaiman Chowdhury said,'' We will not wait any more for the Saudi Prince after the stipulated deadline of November 2007.''

Presided over by DCCI President Hossain Khaled, Privatisation commission members Mian Mustaque Ahmed and Nasir Uddin Ahmed were present as the special guests.

While responding to a question of the reporters, Abu Solaiman Chowdhury disclosed that for the first time, Commission is going to publish rules and regulations for the privatisation shortly.

He said,'' The Government is also considering seriously to amend the existing Privatisation Act for a smother privatisation process.''

Emphasizing the need for more privatisation of the State owned Enterprises (SoE), Solaiman Chowdhury said, ''The aim of privatisation is to strengthen the total industrial base of the country.''

He assured the businessmen to provide all necessary incentive package, post transfer supports to boost the privatisation in the country.

Neither public nor private sector alone is able to contribute to the growth of economy unless the well combined joint efforts are effectively initiated, he observed.

DCCI president proposed to bring the state owned Rupali Bank into the capital market instead of selling it to the foreign investor.

He demanded the immediate withdrawal of the parliamentarians from the board of privatisation commission for the smother and effective privatisation in the country.

He voiced for more representation from the private sector in the commission eliminating politicisation there.

Hossain Khaled suggested the Government of open tender for SoE's so that all investors can participate.

DCCI president said, transparency and consistency should be maintained in all matters of tendering and others related issues

The Government should immediately formulate a specific policy for Private-Public partnership, Khaled added.

DCCI Senior Vice-president Shajahan Khan and Vice-President Alauddin Malik, among others, participated at the discussion while chamber leader Jaglul Pasha presented the keynote paper at the seminar.