By AKM Moinuddin
Dhaka, Aug 23 (UNB) – The new Industrial Policy, nation’s true determinant of foreign as well as domestic investment, will receive formal approval before the upcoming Eid-ul-Fitr.
“I’m hopeful…it’ll get the final approval before Eid without any major changes,” Industries Minister Dilip Barua told UNB over phone on Monday.
He hopes the new industrial policy will play a vital role in both industrial development and economic growth and it will have specific guidelines on industrialization in the country with a vision till 2021.
Replying to a question, Minister Barua said the government has decided not to privatize any profitable units in future and not handover any state-owned enterprises (SoE) to private ownership without creating alternative employment opportunities for those who might get laid-off first.
“We won’t go for privatization of any SoE…..why should we…we made these profitable,” he said.
The new industrial policy, which is awaiting cabinet approval, will have specific directives in this regard.
He also said the SME sector would receive priority in the coming industrial policy as the government believes the SME sector will help keep the wheels of the country’s economy running.
Earlier, the draft Industrial Policy 2010 was cleared on Aug 3 at a meeting of the cabinet committee on Economic Affairs and sent to the cabinet for approval.
A three-member committee headed by Board of Investment (BoI) executive chairman SA Samad was formed to scrutinize the draft industrial policy.
After necessary scrutiny, the draft policy with some minor changes was placed before the cabinet committee on Economic Affairs for its consideration.
The draft of the new industrial policy was first placed in the meeting of the cabinet committee on economic affairs for its perusal in January this year.
The policy, drafted after four years, gave priority to special economic zones and enhanced foreign direct investment benefits.
END/UNB/AKM
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