The New Nation - Internet Edition

Pulack Ghatack

The Caretaker Government has expedited its move to privatise a number of state-owned enterprises (SoEs) by December this year.

The Privatisation Commission has invited international tenders to sell 21 non-financial sector SoEs either in open bidding process or by offloading shares.

The interim government has shown a remarkable success in disinvestments and the Privatisation Commission was able to dispose of at least five public sector bodies by this time. The Commission has so far been able to sell out 74 enterprises since its inception in 1993.

"We could have achieved further success, if some cases pending with the Court, had not forced us to hold up some decisions," an official of the Commission said.

The emergency rule acted as a driving force behind the success, as the government curbed trade union activities and political interferences, which had been hindering privatisation earlier, he said.

The caretaker government, since its inception, has shown its seriousness in disinvesting the SOEs and in April last year the government decided to sell out 18 SOEs.

Government's telephone, air, power, utility services and banking sector institutions were hastily reorganised into corporations to get them ready to be sold.

Privatisation of the state-run airline Biman Bangladesh, the state-run railway, Bangladesh Telegraph and Telephone Board (BTTB), four banks -Sonali, Rupali, Janata and Agrani are on the cards, as part of reforms suggested by the Asian Development Bank, International Monetary Fund and the World Bank.

Rupali is farthest down the road to privatisation, while other public banks have been corporatised.

Presently, 21 SOEs have been included in the Commission's current programme to dispose them. These are: Partical Board and Veneering Plant, Chittagong; National Sugar Mills, Kishoreganj; Procurement & Sales Organisation, Kaptai; Lumber Processing Complex, Kaptai; Karnafuli Timber Extraction Unit, Kaptai; Arco Industries Ltd, Chittagong; SAF Industries Ltd, Jessore; Rangamati Textile Mills Ltd; Tangail Cotton Mills Ltd; Magura Textile Mills Ltd; Rajshahi Silk Factory; Thakurgaon Silk Factory; Dhaka Leather Company Ltd, Savar; North Bengal Paper Mills Ltd, Pakshi; Chittagong Chemical Complex; Karnafuli Rayon & Chemical Ltd; Bangladesh Can Company Ltd, Chittagong; Monowar Jute Mills Ltd, Narayanganj; Aroma Tea Ltd., Fauzdarhat; Handloom Service Centre (HSC), Narsingdi; and Fish Landing Center & Wholesale Fish Market, Sunamganj.

Tenders have been floated to sell off five SoEs, including Handloom Service Centre of Narsingdi, North Bengal Paper Mills Ltd of Pabna, Dhaka Leather Company Ltd, Chittagong Chemical Complex and Monowar Jute Mills Ltd of Narayanganj.

Chief adviser Dr Fakhruddin Ahmed, at a review meeting on March 13, directed the commission officials to take steps to expedite the privatisation process by making necessary amendments to relevant laws and rules through the economic affairs committee, commission sources said.

However, the government has been faltering in disinvesting some of the public giants like Rupali Bank, Bangladesh Petroleum Corporation (BPC) and Biman Bangladesh Airlines.

On August 30, retreated from its decision to privatise five SOEs and asked the Privatisation Commission to return those to their operating ministries.

The SOEs are Chittaranjan Cotton Mills in Narayanganj, Daulatpur Jute Mills in Khulna, Services & Facilities Centre in Brahmanbaria, Textile Facilities Centre in Noakhali and Khulna Newsprint Mills.

The Commission is yet to return the SoEs to the concerned ministries. A number of ministries, which earlier took back as many as 36 industrial units from the commission, had not yet returned them for taking fresh initiative for their sell-out to private entrepreneurs, the commission meeting was told.

The entities are Eastern Jute Mills, People's Jute Mills and Star Jute Mills in Khulna, Kurigram Textile Mills, Ahmed Bawani Textile Mills in Dhaka, Daroani Textile Mills in Nilphamari, Sylhet Textile Mills, Qaderia Textile Mills in Gazipur, Valika Woollen Mills in Chittagong, Khulna Newsprint Mills, Setabganj Sugar Mills in Dinajpur, Chittagong Cabinet Manufacturing Unit, Dhaka Cabinet Manufacturing Unit, Wood Treating Unit in Chittagong, Eastern Wood Works in Dhaka, Fidco Furniture Complex in Chittagong, Sangu Matamuhuri Timber Extraction Unit in Chittagong, Hotel Shaibal in Cox's Bazar, Motel Laboni in Cox's Bazar, Hotel Pashur in Bagerhat, Parjatan Motel in Rangpur, Parjatan Motel, in Sylhet, Padma Oil Company Limited, Jamuna Oil Company Limited, Meghna Petroleum Limited, LP Gas Limited, Eastern Lubricant Limited, Standard Asiatic Oil Company Limited, Bimolanagar Tea Garden, Rajnagar, Patia Tea Garden in Chittagong and Bangladesh Shilpa Rin Sangstha.