31 state-owned industrial units operating at loss: Industries Minister

Industries Minister Khandakar Abdul Muktadir on Thursday informed Parliament that 31 state-owned industrial enterprises under the Ministry of Industries are currently incurring losses.

Responding to a question from ruling party lawmaker SM Jahangir Hossain during the question-and-answer session, the minister said the loss-making entities include five enterprises under Bangladesh Steel and Engineering Corporation, 14 under Bangladesh Sugar and Food Industries Corporation and 12 under Bangladesh Chemical Industries Corporation.

The parliamentary session, presided over by Speaker Hafiz Uddin Ahmad, resumed at 3:30 PM.

The minister explained that the government provides subsidies to offset the gap between production costs and selling prices of fertilisers; such as urea, TSP, and DAP, produced by factories under BCIC. 

However, no subsidies are extended to loss-making enterprises under BSFIC or BSEC, although BSFIC industries receive government loans as operating capital support.

Khandakar Abdul Muktadir said the government has undertaken several initiatives to reduce losses. These include modernising sugar mills under BSFIC, increasing sugarcane production and recovery rates, rationalising workforce structures and establishing agro-based industries and distillery plants.

He also noted that a project is underway to convert the production process of Chhatak Cement Company Ltd under BCIC from a wet process to a more efficient dry process.

In addition, steps have been taken to restart closed factories and develop energy-efficient, environmentally friendly and profitable industries using modern technologies to produce import-substitute goods.

Efforts are also ongoing to modernise industries under BSEC, improve their environmental standards and strengthen their marketing systems, the minister added.

SH