Govt firms given deadlines to offload shares

The finance ministry has set 26 government organisations individual deadlines to offload shares, which span from three to six months, to increase the availability of good shares on the market.
A high-level meeting at the finance ministry reviewed plans for offloading the shares of entities under eight ministries and departments, and gave the directive. Finance Minister AMA Muhith chaired the meeting.
The minister later told reporters that the shares of 32 organisations and companies were reviewed and timeframes for offloading shares have been set for 26 organisations.
Muhith said some organisations were given three months, some four months and some six months. He said if the number of good shares does not increase in the stockmarket, the price of shares goes up unnecessarily.
"Government organisations are reluctant to offload shares, which is unwise. To meet national interests, the government organisations should list on the stock market."
The finance ministry placed a report at the meeting on the stages at which the 32 organisations were in offloading their shares.
The 32 organisations and companies fall under the energy and mineral resources division, power division, industries ministry, bridge division, civil aviation and tourism ministry, post and telecom ministry, health and family welfare ministry and shipping ministry.
Some of the entities are Gas Transmission Company, Jalalabad Gas Transmission and Distribution System, Paschimanchal Gas, Sylhet Gas Fields, Bangladesh Gas Field, Rupantarito Prakritik Gas, Rural Power, GEM, Bangladesh Blade Factory, Bangabandhu Bridge, Teletalk Bangladesh, Bangladesh Telecommunication, Telephone Shilpa Sangstha, Bangladesh Cable Shilpa and Essential Drugs.