TNAG-2594-FCO40-3782-Appointment-of-Chris-Patten-as-new-Governor-of-Hong-Kong--Ap-1992 — Page 143

FROM BOC GROUP OVERSEAS DIVISION

05.20.1992 15:32

NO.16

P. 5

and

to

to promote the role of the private sector

strengthen Government's anti-poverty efforts. In support of Government's policy for providing greater opportunity to the private

economic development of Bangladesh, piloted the following steps:

sector

in

(i)

In

consultation

with

donors

(ii)

(iii)

(iv)

(v)

transformed the character of two maior public sector industrial financing institutions (BSB-BSRS) by piloting legislation for permitting private sector participation (including foreign private sector) in their capital structure, and providing significant administrative and operational autonomy.

Adopted policies for permitting public commercial banks to go for financing of medium and long term industrial investment.

Worked out legal, financial and administrative mechanism for privatising two leading public sector (nationalised) commercial banks and handing them over to private shareholders.

Formulated the legal, financial and administrative policies for setting up a number of private commercial banks.specialised investment institutions in the private sector. and a specialised private bank for small scale industries.

Actively processed the setting up of two

joint-venture

investment companies with Saudi Arabia and the United Arab Emirates, and an industrial leasing company with collaboration of a Korean Leasing Company and the IFC.

Under Luuk muju, uľamme vi blo Inde and Industrial Policies through fiscal and revenue measures in the Government Budget of 1986-87 and