Govt to offload shares of two BSEC firms by March

FE Report (September 28, 2010)

The government will offload shares of two profitable concerns of Bangladesh Steel & Engineering Corporation (BSEC) in the capital market by early next year, industries minister Dilip Barua said.

"Our plan to complete listing by March next year," he said.

"The companies might be Progati Industries Ltd and Eastern Tubes Ltd. We've not taken any decision on it," he added.

He said this while talking to the US ambassador James F Moriarty at his office Monday.

The US ambassador said the new industrial policy will help give a further boost to the country's industrialisation.

The meeting focussed on the issues related to friendly work environment, coal-based power generation, investment in specialised industrial zones and establishment of hi-tech industrial park.

Mr Moriarty emphasised on a tripartite interaction where workers, owners and the government will communicate on different issues to ensure a better environment in the industrial units.

"Bangladesh can set up hi-tech industrial park for the development of industrial sector," the envoy said.

In response, Mr Barua said the government is moving ahead with the establishment of coal-based power plants in Chittagong and Khulna to address the current power crisis in industrial belts.

He said that the government would ensure equal opportunities for domestic and foreign investors in special zones.

'We will also create a congenial atmosphere for our expatriates," he told the envoy.

Responding to a question, Mr Barua said state sugar mills produced 62,000 tonnes of sugar this year and the production would be more than double next year.

Industries secretary KH Masud Siddiqui and high officials of the US Embassy in Dhaka were present in the meeting.