Dhaka’s new policy to protect `sensitive’ industries

September 7th, 2010 - 1:48 pm ICT by IANS  

Sheikh Hasina Dhaka, Sep 7 (IANS) Bangladesh’s National Industrial Policy 2010 aims to protect “sensitive, vulnerable industries” while supporting both the public and the private sector.
The list of sensitive and vulnerable industries was not made public.

The cabinet Monday approved the policy draft that drew mixed reactions from the industrial and financial institutions.

The policy targets at the gross domestic product growth rate of eight percent by 2013 and 10 percent by 2017.

The new policy, replacing the one enforced in 2005, will provide for supporting sick industries both in private and public sectors “to create an industry-friendly environment”, New Age newspaper said Tuesday.

The draft policy also encourages both foreign and local investments under public-private partnership initiatives for industrial development of the country, officials said after the meeting that was chaired by Prime Minister Sheikh Hasina.

The draft also proposes to develop special economic zones (SEZs) in poverty-hit Rajshahi and Rangpur divisions, both bordering India.

The cabinet committee on economic affairs Feb 18 sent back the proposed industrial policy suggesting major changes to make the policy “compatible with the growing needs of the country”.

The suggestions included incorporation of responsibility for environmental protection, guidelines for making state-owned enterprises profitable, and outsourcing for industrial sector.

While sections of industry disapproved of the continued protection to the state sector, Industries Minister Dilip Barua termed it “comprehensive” and hoped that the policy would propel industrialisation and foster economic growth, The Daily Star newspaper said.

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