Sudden ‘lockdown’ to affect operations management
Big businesses say
Big businesses say
Industrialists have found it difficult to instantly implement emergency measures for the smooth continuation of manufacturing operations after the government suddenly announced a nationwide lockdown to curb the spread of Covid-19.
Corporate offices will be run online while a physical presence will be available on an emergency basis during the seven-day lockdown beginning today.
But despite their difficulties, industrialists agree with the government s decision, believing that it would not have too much of an impact on the economy. The sudden lockdown led to slight difficulties but there is no alternative to tame the ongoing situation, said Mostafa Kamal, chairman and managing director of Meghna Group of Industries (MGI), a leading conglomerate in Bangladesh.
Proposed industrial policy aims at skills uplift
May set target to boost sector’s GDP contribution by 5 percentage points
Over the past three decades, the industrial sector’s contribution to economy has increased due to the expansion of export-oriented sectors, particularly garments. Star/file Star Business Report Star Business Report
The upcoming industrial policy will set a target to increase the industrial sector s economic contribution from the existing 35 per cent to 40 per cent of the country s gross domestic product, according to a draft industrial policy.
The new policy is expected to focus on the IT sector in order to help industries improve their efficiency and productivity, it said.
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Light engineering can thrive on bike components
Experts say the sector can grab bigger share of the spare parts market
Industry players believe the growing sales of motorcycles are likely to boost the market for bike components. Photo: Star File Star Business Report Star Business Report
There is huge potential in the country s light engineering sector to exploit the local market for motorcycle components, according to speakers at a webinar yesterday. The annual demand for motorcycles reached 550,574 units on average in 2019 while it was 207,835 units in 2015, for which around Tk 2,100 crore worth of spare parts is required, said Ihsanul Karim, director of Bangladesh Industrial Technical Assistance Centre (Bitac).