BSCIC reserves 10% plots for women entrepreneurs

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BSCIC reserves 10% plots for women entrepreneurs

BM Desk:

The Bangladesh Small and Cottage Industries Corporation (BSCIC) reserved 10% of the plots in its industrial parks and estates for women entrepreneurs. The new policy, titled “Bangladesh Small and Cottage Industries Corporation (BSCIC) Industrial Park/Estate Plot Allocation and Management Policy-2023”, was recently approved by the government.

Under the policy, at least 10% of the total plots to be allocated must be given to women entrepreneurs. However, if no suitable women entrepreneurs are available, the plot allocation and management committee may allocate them to other interested entrepreneurs.

Women entrepreneurs will be required to pay a down payment of 15% of the plot price, while other entrepreneurs will be required to pay 20%. The repayment period for women entrepreneurs will be seven years, with two installments per year. Other entrepreneurs will have a six-year repayment period with 12 installments per year.

Ferdous Ara Begum, chief executive officer of Business Initiative Leading Development (BUILD), welcomed the policy, saying it would give many women entrepreneurs the opportunity to grow their businesses. However, she also said that other support services, such as access to finance and training, should also be provided.

In addition to the quota for women entrepreneurs, the new policy also sets out other requirements for plot allocation. Plots up to 15,000 square feet can be allocated by the district committee, while plots between 15,000 and 45,000 square feet require approval from the BCIC chairman. Plots of 45,000 square feet or more require approval from the senior secretary or secretary of the Ministry of Industries.

The committee of a specialized industrial park or estate can allocate plots up to 225,000 square feet, while plots larger than that require approval from the senior secretary or secretary of the Ministry of Industries.

In addition, the new policy requires that factories in industrial parks and estates install specific-sized wastewater treatment plants (ETPs). Factories must also start commercial production within two months of the start of trial production, which must begin within three months of the installation of machinery.

According to BCIC data, there are currently 12,313 plots in 82 BCIC industrial parks. Of these, 6,180 industrial establishments have been allocated 11,190 plots. Of these, 4,533 establishments are fully operational. There are also 1,980 plots currently vacant in 21 industrial parks. BCIC has invited applications for these plots.

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