The Bangladesh Small and Cottage Industries Corporation (BSCIC) is seeking applications from entrepreneurs to allot 1,003 plots lying vacant in various industrial estates across the country.

On March 6, the state-run agency ran an advertisement on its website as well as in newspapers to draw the attention of entrepreneurs.

Interested entrepreneurs will have to apply within 45 days from the publication of the advertisement.

Established in 1960, the BSCIC started its journey to develop industrial plots equipped with utility connections and connectivity for SMEs with a view to spurring industrialisation. The agency has 80 industrial estates having 11,922 plots.

Despite the availability of utility connections and other services at the estates, many plots sit idle.

The Rajshahi-2 industrial estate has the highest number of empty plots at 239.

Masudur Rahman Rinku, president of the Rajshahi Chamber of Commerce and Industry, blames the higher price of the plots for the lower interest among entrepreneurs.

The chamber wrote a letter to the industries ministry recently, requesting it to reduce the price of the plot.

Rinku claimed adequate loans are not available from private banks. "Overall, entrepreneurs are less interested about the plots. So, even after the estate is ready, many plots are still vacant."

The BSCIC Industrial Estate in Bhairav of Kishoreganj has the second-highest number of vacant plots of 234. It stood at 157 at the Narsingdi Industrial Estate (Extension).

Abdul Momen Molla, president of the Narsingdi Chamber of Commerce and Industry, also expressed concerns about the higher price of plots.

A meeting was held at the district administration office recently on the allotment of plots. During the meeting, Molla requested the authorities to allocate plots to genuine entrepreneurs.

There are 77 vacant plots in the Sreemangal Industrial estate out of a total of 122.

"Most of the plots in the BSCIC estate are vacant because there are fewer local entrepreneurs," said Kamal Hossain, president of the Moulvibazar Chamber of Commerce and Industry.

"Besides, the Habiganj Industrial Park is not far from Sreemangal. Many entrepreneurs have invested in that park."

He said the prices of plots are two to three times higher in the estate than outside of the estate.

"Many entrepreneurs are also facing problems in getting gas connections. So, they are less keen about securing plots in the industrial estate."

Abdul Matin, acting director for industrial promotion and extension of the BSCIC, said a policy has been prepared to remove the anomalies in the allotment of plots.

"The policy is in the final stage. If it is implemented, many problems will be solved."

The official said in some areas, industrial estates have been established at the request of influential people. "But when the industrial estate was ready, there weren't enough entrepreneurs to take the plots. As a result, many plots are vacant now."

"The problem has existed for long. It will be resolved in phases."

According to the BSCIC notification, entrepreneurs will have to pay 20 per cent of the total value of the plot during the application. The rest of the amount could be paid in a single installment or in 10 installments over five years.

The plots will be distributed by the district plot allocation committee. Each plot is leased out for 99 years.

A factory must be built on the plot within 18 months of getting the allotment.

Currently, 4,511 factories are operational in the industrial estates and a fifth of them manufacture goods for the export markets, BSCIC data showed.

About 30 per cent of import-substitute products made in the country also come from these estates, which also account for 11 per cent of the country's exports.

The industries in the estates represent garment, poultry, food-processing, jamdani, hosiery, active pharmaceutical ingredients, light engineering and electrical products, plastics, printing, and chemicals sectors. Collectively, they have created more than 850,000 jobs.