BSCIC mulls increase in price of industrial land
Bangladesh Small and Cottage Industries Corporation has proposed to tighten the industrial plot allotment process to ensure proper utilisation of industrial lands and to ensure workplace safety, quality of products and protect environmental, officials of BSCIC said. The corporation is set to amend the existing Industrial Plot Allotment Policy in this regard as it has already prepared a draft of the amendment, they said, adding that stakeholders have been asked to send their opinion on it by April 25.
On the other hand, BSCIC has also taken an initiative to increase the price of land in industrial estates to make it consistent with market price.
An official said that the government did not increase the price of land in industrial estates for 17 since 1996 when it last increased the price of land, an official of the BSCIC told New Age on Wednesday.
‘By this time, land price has increased manifold. On the other hand, the demand for industrial plots has increased significantly. So, BSCIC needs to adjust the price with market price,’ he said.
After finanlisation of the plot allotment policy, BSCIC will decide about increasing the price of land, he said.
In the draft amendment, the amount of bank balance for investors has also been fixed for small industries in manufacturing and service sectors to be set up by own fund and bank loan.
Plot allotment and management process have also been decentralised, officials of the BSCIC said.
According to the draft, clearances from Fire Service and Civil Defence, Chief Inspector of Boilers, Bangladesh Standards and Testing Institution as well as Department of Environment will be made mandatory to ensure workplace safety, quality of products and protect environment.
Central effluent treatment plant will also be mandatory if the factory is pollution-prone, it said.
In the existing law, only environment clearance was mandatory.
Currently, workplace and workers safety, environmental protection and quality of products are the major concern for local and international consumers, an official said.
BSCIC took the initiative to address these concerns and streamline the policy as there are some ambiguity and inconsistency in the existing policy, he said.
According to the proposed amendment, interested investors will have to maintain a bank balance of 20 per cent of total project cost for small industry in manufacturing sector, if she/he wants to set up the factory with bank loan.
The amount of bank balance has been proposed at Tk 10 lakh for the sector for setting up the factory with own fund, it said.
For the small industries in service sector, the amount has been proposed at Tk 5 lakh for own-funded factory and Tk 2 lakh for bank-funded one.
Investors will also have to show bank certificate regarding financial solvency and one year’s transactions.
-With New Age input
