Left-leaning parties reject planned private investment in 44 state enterprises

Seventeen left-leaning political parties have strongly protested the government's initiative to open state-owned industrial enterprises to domestic and foreign private corporate investment.

At a meeting held at the office of the Communist Party of Bangladesh (CPB) in Purana Paltan on Monday, party leaders described the move as an attempt to establish corporate control over state assets through privatization.

In a resolution adopted at the meeting, the leaders said that the Bangladesh Investment Development Authority (BIDA) has taken steps to open 44 industrial enterprises under five state-owned corporations to domestic and foreign investment. They argued that the initiative effectively amounts to transferring publicly owned state assets into private hands.

According to the resolution, the process is being pursued under various labels, including “reinvestment in existing industrial assets,” “restructuring,” “long-term leasing,” “joint ventures,” and “strategic partnerships.”

The resolution further stated that although the government has presented the initiative as a programme to boost investment and create employment, it is in fact a continuation of long-standing liberalization and privatization policies.

The leaders alleged that many state-owned enterprises had been deliberately weakened through planned mismanagement, inadequate investment, reluctance to modernize and policy neglect, creating losses that were later used as justification for transferring them to private ownership.

Speakers at the meeting said state-owned industries, land and infrastructure are public assets that play a vital role in industrialization, employment generation, balanced regional development and ensuring economic security. They argued that any move to weaken state control over these national assets runs contrary to the country's national interest.

The meeting called for the immediate suspension of the initiative to open state-owned industrial enterprises to private investment. It also demanded the publication of the full list of the proposed 44 enterprises, their valuations and the terms of any potential agreements.

In addition, the parties called for a national-level dialogue involving trade unions, economists, industrial experts and other stakeholders, as well as the formulation of a comprehensive national industrial policy aimed at reopening closed state-owned sugar mills, jute mills and other industrial establishments through modernization.

The parties also expressed support for a rally scheduled to be held in Dhaka on 10 August, organized by the State-Owned Sugar Mills Protection Committee, which is demanding the modernization and reopening of closed state-owned sugar mills. They urged workers, employees and the public to participate in making the programme a success.

The meeting was chaired by Bazlur Rashid Firoz, General Secretary of the Bangladesh Samajtantrik Dal (Basad). Among those in attendance were CPB President Sazzad Zahir Chandan, CPB General Secretary Abdullah Kafi Ratan, Jatiya Ganafront Chief Coordinator Tipu Bishwas, Bangladesh Jasad General Secretary Nazmul Haque Prodhan, and leaders of the 17 left-leaning, progressive and democratic political parties.