The government has decided to offload shares of seven state-owned enterprises in the power and energy sector in a bid to revitalise the capital market, says Finance Minister AHM Mustafa Kamal.
The seven companies are Titas Gas Transmission & Distribution Company Limited, Power Grid Company of Bangladesh, North West Power Generation Company, Electricity Generation Company of Bangladesh Limited, Ashuganj Power Station Company Limited, B-R Powergen Ltd and Gas Transmission Company Ltd.
The minister said this on Sunday (Feb 2) after a meeting at the National Economic Council, reports BSS. Kamal said more government entities and companies need to enter the capital market for reviving it.
The companies should have to be sustainable while the balance sheet of each of the company should have to be assessed.
He said the current value of the assets of those companies is not the same which was 10 years back and those should have to be revalued at current price.
“We’ve to give some time to those companies for revaluing their assets and it would take around two months time,” he said.
Kamal said it would be possible to revalue the assets of these seven companies within two months time while the valuation of the shares of these companies would be assessed as per their net assets.
From 10 percent to 25 percent of the shares of these companies would be offloaded gradually as per of initial step, he informed.
The minister said these government companies could assess their assets by private firms or could take support from the Investment Corporation of Bangladesh (ICB) in this regard.
“We want to bring these seven government companies in the power and energy sector soon. For this, we’re going to assess the assets of those seven companies by seven firms so that the task is accomplished soon,” he added.