Industrial law in next six months: Barua

The government will finalise the industrial law within six months in consultation with all the stakeholders, Industries Minister Dilip Barua said on Tuesday.

“We’ll prepare an industrial database for the entrepreneurs. It’s very urgent. And we’ll finalise the industrial law in the next six months,” he told a meeting with business leaders in his Shilpa Bhaban office.

Barua said the government wants rapid industrialisation in the country and sought active participation from the private sector to that end. “We want a vibrant private sector…we’re promoting private sector.”

Voicing disappointment over the tendency of frequent policy changes, he said all should give emphasis on long-term perspective policy. “It’s unfortunate that policy gets changed with the change of government. Continuation of policies is a must for long-term achievements,” he said.

The Industries Minister said the present government is working hard to reach the middle-income country (MIC) status by 2021 and develop overall infrastructure through industrialisation. “We need a national consensus on this issue.”

He said the Bangladesh Small and Cottage Industries Corporation (BSCIC) has 74 industrial zones and the government has taken an initiative to modernise and expand the industrial zones.

Barua also informed that the government has earned revenue (VAT, tax) of about Tk 1900 crore from BSCIC but it did not get any significant budgetary allocation.

He emphasised developing skilled human resources and use of modern information technology.

Dhaka Chamber of Commerce and Industry (DCCI) president Asif Ibrahim, Industries Secretary KH Masud Siddiqui, DCCI senior vice president Haider Ahmed Khan, directors TIM Nurul Kabir, Waqar Ahmad Choudhury, Absar Karim Chowdhury, M Abu Horaira, Shahidul Islam and Hossain A Sikder spoke on the occasion.