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Bangladesh Engineering Trade House owners’ Affiliation has not too long ago written to the prime minister and sought the subsidy
Infographic: TBS
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Infographic: TBS
Bangladesh Engineering Trade House owners’ Affiliation has sought an 80% subsidy for plot allotment within the gentle engineering park in Munshiganj, developed by the Bangladesh Small and Cottage Industries Company (BSCIC).
In a letter despatched to the prime minister not too long ago, the organisation termed the worth of land within the industrial park “extraordinarily excessive” and requested her to rationalise the worth and supply a subsidy or grant on plot allotment.
Abdur Razzak, president of the Engineering Trade House owners’ Affiliation, instructed The Enterprise Commonplace (TBS), “Entrepreneurs wouldn’t be capable of arrange industries right here if the federal government doesn’t present any subsidy on plot allotment. The value of 1 katha of land within the industrial park is Tk13.5 lakh, which may be very excessive.”
The affiliation requested for the subsidy after seeing that the BSCIC Tannery Industrial Property in Savar gives related services to leather-based entrepreneurs in establishing factories.
Jitendra Nath Pal, former undertaking director of the Savar tannery property, not too long ago instructed TBS that leather-based manufacturing facility house owners needed to bear solely 20% of the full bills in establishing factories on the tannery property whereas the remaining 80% got here as a grant from the federal government.
BSCIC officers, nevertheless, refuted the entrepreneurs’ declare and stated the worth of land within the gentle engineering park in Munshiganj has been fastened primarily based on the undertaking expenditure, together with the land acquisition value.
They talked about that the company had already lowered the worth as soon as in response to traders’ demand.
One of many officers, talking on situation of anonymity, instructed TBS, “Now the BSCIC has nothing to do with lowering the land value. The federal government can scale back it if it desires. In that case, the federal government has to pay a big quantity in subsidies.”
In accordance with sources, the BSCIC referred to as for purposes for land allotment in March 2021 because the undertaking was nearing its prolonged deadline. However, entrepreneurs didn’t present curiosity in making use of because the land value was fastened at Tk19.95 lakh a katha.
Later, the BSCIC introduced the land value all the way down to Tk13.50 lakh per katha and issued one other notification searching for purposes however that too failed to draw entrepreneurs.
Bangladesh Engineering Trade House owners’ Affiliation in its letter to the prime minister stated if the federal government desires to attain its growth objectives, the sunshine engineering industries ought to be offered subsidies like neighbouring India or different nations in Southeast Asia and within the Asia Pacific area.
Abdur Razzak, president of the affiliation stated, “The contribution of the sunshine engineering sector to the nation’s economic system can’t be underestimated. This sector is an enormous supply of employment within the nation. If 80% subsidy may very well be given for land allotment within the leather-based industrial park, why will not the sunshine engineering sector get it?”
He stated, “Entrepreneurs on this sector have suffered rather a lot as a result of Covid-19 pandemic. On this scenario, if the federal government doesn’t present any subsidy or grant, it won’t be attainable for anybody to arrange a manufacturing facility within the industrial park. This won’t assist the federal government attain its purpose.”
Individuals involved say a lot of the gentle engineering industries within the nation are scattered alongside the highways or in residential areas which have been the principle motive behind their low manufacturing and incapability to keep up social and environmental guidelines.
To unravel the issue, the federal government began the development of the sunshine engineering industrial park in 2016 on 50 bighas of land in Munshiganj. The first goal was to arrange 362 gentle engineering factories there.
The estimated value of the undertaking was Tk280.57 crore and was supposed to finish in June 2019.
However, it obtained prolonged to June 2022 owing to complexities in land acquisition and numerous different causes.
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