Progoti Industries
The Progoti Industries is an industrial enterprise that belongs to Bangladesh Steel and Engineering Corporation (BSEC). It assembles motor vehicles. A Bangla daily newspaper from Dhaka reported recently that it had been suffering from acute working capital shortage. It borrowed inadequate working capital form commercial banks with high interest.
It is known to people concerned that the capital market in Bangladesh has been developing rapidly since the last few years and is suffering from tremendous short supply of stocks to invest. In addition to that in principle the government has accepted the policy of private, public partnership (PPP) to accelerate economic development of the country. No strategies have been formulated in this respect to implement the principle of PPP. A substantial amount has been allocated for PPP in the current national budget but even after six months no investment in PPP could be attracted.
The Progoti Industries could be converted into a public limited company to improve its performance and increase availability of stocks in capital market, but with the government retaining its direct control. It would be a good example of PPP as well.
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