Committed to PEOPLE'S RIGHT TO KNOW Vol. 5 Num 207 Wed. December 22, 2004       Letters to Editor Privatisation Tapader Md Khalilur Rahman Rokeya Sarani Mirpur, Dhaka-1216 Not long ago, most of the organisations were in the ownership of the private individuals. Profit motive to the extent of intolerant limit, and other vices of these private individuals became very transparent. Exploitation by them could not be kept invisible. As a result of these factors, the government had to establish public enterprises to ease the public inconveniences. After liberation, the owners of so many mills and industries left their establishments. The government then had no other option than to nationalise those industries. Before liberation, according to an estimate, 80% of the total wealth of the country was locked in the hands of 22 families. Thus equitable distribution of wealth was also a motive behind nationalisation. Now privatisation? We talk of privatisation every minute. The state owned enterprises incur losses. For example, Chittagong Steel Industries was incurring huge losses. It has been stopped/closed. Immediately after its closure price of iron rods has increased 2/3 times. We are privatising profit earning institutions. We are privatising profit earning banks. If one bank earns 14 crore taka in one year each person will share one taka. The government uses instrumentalities of government bank to fight the after effects of flood and other natural calamities. Private banks earn profit but their earnings will increase the wealth of a few individuals only . Their earnings will help to accumulate wealth in a few hands. But profit earned by government owned enterprises will help in equitable distribution of wealth. Therefore, "PRESCRIPTION" for "PRIVATISATION" should not be swallowed repeatedly without any break. This may lead to a situation again to nationalise each and everything without leaving any scope for rational judgement.