The concept of incurring losses is something that is not wanted by anyone. Despite this, there are multiple government-run organisations which are constantly incurring losses. Just a few months ago, news concerning the closure of 25 government-run jute mills caused much upheaval in the sector.
However, it is all for the process of development. And there have also been repeated assurances that these mills will be reopened with a better and modern facility and machinery that suit the modern times. As per a report published in this daily, Bangladesh Sugar and Food Industries Corporation (BSFIC) has stopped activities in six government-owned sugar mills to reduce the burden of losses the mills have incurred.
To bring about a circumstance where these loss-making
organisations will prove to be profitable once again, a wide
and substantial amount of refurbishing is required
What is disconcerting here is that in the last fiscal year, the total loss of 36 government organisations stood at Tk 4,000 crore. This is a huge amount of money that is being lost. If this were made available as funds, then it would have come in assistance to fulfilling some other mega projects.
To bring about a circumstance where these loss-making organisations will prove to be profitable once again, a wide and substantial amount of refurbishing is required. Thus, we believe that it would be optimum to revitalise the areas where losses are common and capitalise on them by bringing them into a profitable position.
Above all, we believe that the state-owned organisations must function at their best. There is a preconceived idea that state-owned facilities are far from efficient. It is high time to get rid of this notion and stigma for a better picture.
