“The government has taken the initiative to amend the company act to establish its control over private companies,” BNP standing committee member Barrister Moudud Ahmed said on Tuesday.
He was addressing a meeting organised in memory of Language Movement Veteran Oli Ahad at the National Press Club.
Disapproving the government’s plan to amend the ‘Bangladesh Companies Act 1994’ to appoint administrators to troubled private companies, he said. The motive behind this move is to bring private companies under its grip, he added.
The Cabinet on Monday approved in principle the amendment to the companies act allowing the government to appoint administrators to private companies under special circumstances.
The former Law Minister called upon the government to rescind its decision, saying that those advocating for amending the act are against development of the country.
“If the law is formulated to appoint administrators to private companies, entrepreneurs will get discouraged from launching a new venture,“he said at a memorial meeting.
Jatiyatabadi Samajik Sangskritik Sangstha (Jasas) arranged the meeting at Bhasani Auditorium in the city’s Nayapaltan area in memory of veteran journalists Ataus Samad and Foyez Ullah Foyez.