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US Citi Bank suggest privatization of Airline |
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July 14, 2000
Dhaka (UNB)- A foreign consulting firm prescribed partial privatization of Biman Bangladesh Airlines by December keeping 51 per cent share in government's hand and preserving 9 per cent for employees. The rest 40 per cent shares will be offloaded to private sector, suggested Citi Bank of USA, the government-appointed consultant, in its report placed yesterday (Thursday). Finance Minister Shah AMS Kibria, Civil Aviation and Tourism Minister Engr Mosharraf Hossain and Law Minister Abdul Matin Khasru were present when team leader Uli Baur was detailing the report on behalf of the firm. The government appointed the consultants with financial assistance from the World Bank to advise it after the cabinet in June 1998 decided to privatize and restructure Bangladesh's national flag carrier to make it a "globally competitive profitable concern". Principal Secretary to the Prime Minister Dr SA Samad, Bangladesh Bank governor Dr Mohammad Farashuddin, Energy Secretary Dr Towfiq-E-Elahi Chowdhury, Internal Resources Division Secretary Abdul Muyeed Chowdhury, Secretary to the Prime Minister Zakia Akhtar Chowdhury, Bangladesh Biman Corporation Managing Director Air Commodore Rafiqul Islam, Civil Aviation Authority Chairman Air Commodore Iqbal Hossain, and representatives from World Bank and consulting firm were present. |