Staff correspondent :

The Bangladesh Small and Cottage
Industries Corporation (BSCIC) Bill, 2023 passed in the parliament keeping a
provision of two years in prison and a maximum fine of Taka 50,000 for
providing false information for borrowing money from the corporation.

The bill moved in the House by Industries Minister Nurul Majid Mahmud Humayun
placed in the House and it was passed by voice votes with Speaker Dr Shirin
Sharmin Chaudhury in the chair.

The Bill said that if anyone damages or replaces any border wall the
punishment will be maximum six months of imprisonment or maximum Taka 100,000
as fine or both. The proposed bill will replace the Bangladesh Small and
Cottage Industries Corporation Act, 1957.

If anyone creates obstacles in any work of the Bscic-appointed developer or
contractor then the punishment will be the same.

For illegal land grabbing and construction of infrastructures the punishment
will be the same also.

If anyone transfers any plot illegally, then the punishment will be one year
of imprisonment (maximum) or fine of Taka 50,000 (maximum) or both.

The Bill will make the industrial entities under the Bscic more effective.

The proposed law will promote women entrepreneurs as the existing law, 1957
is outdated.

The Bill said that the Corporation can take necessary steps to create women
entrepreneurs in industrial sector and give them protection.

As per the proposed law, the authorized capital of the Corporation will be
Taka 3,000 crore while the paid up will be Taka 2637.22 crore.

There will be a 16-member board of directors for the Corporation and chairman
of the entity will be the president.

The Corporation will have 10 directors and the government will appoint all
the directors.

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