In 2010, the government had decided to release 25 companies in the share market. Even after seven years, companies could not leave the shares. No one can be sure when it can be without Among the companies, Bangladesh Telecommunication Company Limited (BTCL), Sonargaon Hotel, Chhatak Cement Factory, Liquid Petroleum Gas Limited or LPGL, Sylhet Gas Field, Northwest Power Generation Company, Bakhrabad Gas Transmission and Distribution Company Limited, Gas Transmission Company Limited, Jalalabad Gas System Limited , The western part Gas Company Limited, Bangladesh Gas Field Limited, transformed natural gas company limited. Of these companies, nine are the Ministry of Energy and Mineral Resources. Four of the power division The five industries ministry. Three of the Ministry of Tourism. Besides, four of the Ministry of Post and Telecommunications.
According to the Ministry of Finance, in the year 2018, these companies have been given the last time to leave the shares. This year the activities of the organizations will be closely monitored. For this, a five-member committee headed by Additional Secretary of the Ministry of Finance, Muslim Chowdhury has been formed. Every two months the committee will review the progress of the companies leaving the company after the meeting. Other members of the committee are BSEC, Energy Ministry, Power Division, and Bangladesh Investment Corporation or ICB representative of the capital share market regulator. According to sources, the financial condition of these institutions will be given a separate allocation from the Ministry of Finance if necessary.
The company’s representatives have claimed that most of these companies are losers, without a hassle for the shares. However, the government officials say that the government is working as a major barrier to not leave the shares. Capital experts say According to them, these companies will come under the accountability when they come to the stock market. Then the opportunities will be reduced to their own, being opposed for this. The government should remove all the barriers, and arrange to leave the stock faster. This will increase the share market depth. Investors will benefit
When contacted, State Minister for Power and Energy Nasrul Hamid told Samakal, the work was going on according to the order of the Finance Ministry. Consultants of an economy will be appointed soon to bring the companies to share market immediately. They will work according to their advice. Postal and telecommunication secretary Shyam Sunder Sikder said it was not possible to leave the four companies under its ministry to meet the conditions. However, the best efforts are being made so that the time of the tied-up goes without the shares of those organizations.
Asked, Petrobangla Secretary Syed Ashfaquzzaman said, without making these profitable institutions, it would not be possible without the shares of these institutions. Importing LNG to meet demand, As a result, the pressure on the companies will increase if local prices are not raised. Therefore, these issues should be considered before leaving the shares.
Joint Secretary of Finance Ministry Nasir Uddin Ahmed is hopeful that synthetic institutions will be able to come to the stock market during the tied up period. BSEC spokesman Saifur Rahman said, “The conditions that are available for coming to the IPO must be met. The necessary help will be provided by the BSEC when the market is in compliance with the prevailing norms.
Government company Titas Gas has been without 25 percent shares long ago More than 10 percent were supposed to be released, but it still has not. Apart from 20 percent of the company’s power grid company, the offer to leave 15 percent is pending. Three other Ashuganj Power Station Company Limited and Electricity Generation Company of Bangladesh Limited, the power sector, have no progress in the distribution of shares.
Under the Ministry of Industries, Progress Industries, Chittagong Dockyard, Karnaphuli Paper Mills Limited, Bangladesh Insulator and Sanitary Wire Factory Limited are also in the same condition. Under the Civil Aviation Ministry, the process of leaving 10 percent of Biman Bangladesh Airlines has been stuck for many years. Apart from just 1 percent of Sheraton Hotel, the remaining shares are not available in the market. Sonargaon Hotel also has the same condition. Under the Ministry of Post and Telecommunications, there is no progress in the program except the Teletalk, Bangladesh Cable Industries Limited, and Telephone Industries Association.
When contacted, capital market expert Prof Abu Ahmed told Samalkar, “The biggest barrier to the government’s share of the government is not to leave the shares. Those who were on the board took advantage of many opportunities. Accounting will be accountable in the market. As a result, their benefits will be reduced, being opposed for this.
Faruk Ahmed Siddiqui, former Chairman of the Bangladesh Securities and Exchange Commission (BSEC), said that the share of government-owned good companies will increase the market share. Investors will benefit. However, he advised not to leave the loss-making company shares.
Rakibur Rahman, former president of the Dhaka Stock Exchange, thinks that most of the government-owned institutions are not good. He believes that the management should not be able to increase the efficiency of the IPO without increasing its efficiency.