January 8, 1973

TK 25 LAKH PRIVATE INVESTMENT ALLOWED

The first industrial and investment policy of the country is announced by Industries Minister Syed Nazrul Islam today. The policy provides for private investment in medium and small industries with a maximum ceiling of Tk 25 lakh and grants moratorium on nationalisation of such industrial units for 10 years.  The government will, however, have the right to nationalise any industrial unit even during the moratorium in the case of underutilisation of the installed capacity due to neglect or mismanagement. The industrial policy makes provision for foreign investment only in collaboration with the government. The foreign investors shall be able to remit all post-tax dividends of foreign capital in Bangladesh.

It has also been stated in the policy that a Cottage Industry Corporation will be set up which shall endeavour to promote rural industrialisation by making available improved design and techniques, essential raw materials, credit, marketing and training facilities to the artisans.

ERADICATE SMUGGLING: BANGABANDHU

Prime Minister Bangabandhu Sheikh Mujibur Rahman today calls upon BDR personnel to completely eradicate the menace of smuggling along the borders. The prime minister, who inspected the attestation parade of the first batch of Bangladesh Rifles (BDR) recruits at Peelkhana, asks them to be disciplined and honest and to love their fellow citizens. 

Bangabandhu recalls the role of BDR (the then EPR) in the liberation struggle and says he is very glad at the opportunity to come to them. At his call the jawans of the rifles boldly faced the enemy empty-handed and sacrificed their lives by the hundreds, says Bangabandhu. He adds that the BDR men at Chittagong had communicated to all places his call to resist the enemy which made it possible to resist the Pakistan army simultaneously everywhere.

Source: January 9, 1973 issues of Dainik Bangla, The Bangladesh Observer and Ittefaq.