Dhaka:BNP Acting Secretary General and Prime Minister's Political Adviser Advocate Ruhul Kabir Rizvi emphasized the potential for turning state-owned industries into profitable enterprises through modern technology and strong leadership.
According to Bangladesh Sangbad Sangstha, Rizvi made these remarks during a discussion on the textile sector's challenges and a reception for the newly elected ITET committee, organized by the Association of Engineers Bangladesh at the IEB auditorium in Ramna.
He highlighted the importance of reopening closed factories and increasing productivity through modernization. Engineers' skills and experience are crucial in addressing the existing problems in the textile and readymade garment sectors, which are significant sources of foreign currency for the country.
Rizvi pointed out that entrepreneurs are currently facing numerous challenges, including energy shortages, rising electricity prices, limited financing, difficulties in opening letters of credit, and meeting international compliance requirements. These issues are exacerbated by global disruptions and wars affecting energy supplies.
He also noted that Bangladesh's graduation from the least developed country category could present new challenges for the textile sector, potentially reducing interest from European and American buyers. Ensuring financial support and compliance with international standards is essential to maintain buyer interest.
Rizvi stressed the need for restructuring the banking and financial sectors, which suffered extensive damage under the previous government, to provide necessary financing for industries. He also called for improved working conditions and environmental standards to keep international buyers engaged.
Addressing engineers, he emphasized the importance of patriotism and collective efforts for national welfare. The prime minister's initiatives, such as Family Cards and Health Cards, aim to expand the social safety net and reflect efforts toward national development.
Rizvi congratulated the newly elected ITET committee members and extended greetings to candidates for the upcoming Engineers Institution election in November.