Land of Muktijoddha Kallyan Trust to be sold at competitive prices

The Ministry of Liberation War Affairs is soliciting Prime Minister Sheikh Hasina’s approval for selling different pieces of land owned by the Muktijoddha Kallyan Trust, at competitive prices.

It is also seeking permission from the Chairman of the Muktijoddha Kallyan Trust for selling those pieces of land currently owned by the MKT.

The Trust is working out to determine if selling plots to private individuals would be more profitable than selling it to other government organisations. Also, the price of the land is under consideration. These prices set by the respective sub-registrar offices are much lower than the prices offered by private individuals.

The decision to sell land either in open market or to the state agencies was taken at a recent meeting of the Executive Committee of MKT.

On 15th February, in the 66th meeting of the Trustees, the Board decided to go for land auction to different public enterprises. The meeting was presided over by Prime Minister Sheikh Hasina.

The Minister of Liberation War Affairs AKM Mozammel Haque, said, there is no power of the executive committee of Muktijoddha Kallyan Trust to sell the ministry land and other assets to various entities.

The minister said the land price in Gazipur is higher compared to the prices set by the government.

“We want to get optimum revenues from sales proceeds of land owned by Muktijoddha Kalyan Trust so that the freedom fighters get maximum benefits,” AKM Mozammel Haque told the Business Insider Bangladesh, recently.

Former President of Dhaka Chamber of Commerce and Industry Abul Kasem Khan said getting proper land for setting up industries is still a major problem in the country.

A local businessman will try to get a piece of land which is most beneficial for his business, he said.

Former finance adviser to caretaker government Dr AB Miza Azizul Islam said selling of Trust land has already been too late. It should have been expedited.

“The government should make sure that the right people get the land.”

The government of Bangladesh in its Eighth Five Year Plan (July 2020 – June 2025) sets a target of 8.5% GDP growth by FY25.

To achieve this, 75% of the total investment needs to be generated from the private sector alone, according to an estimate.

This cannot be achieved without reforms and resolving land related problems, as per the 8th Five Year plan.

In its 53rd Executive Committee of Muktijoddha Kallyan Trust meeting, the two enterprises of Muktijoddha Kallyan Trust in Gazipur--- United Tobacco Company Limited and Bangladesh Glass Industries have enlisted their land to sell it in the market.

According to the meeting decision, in Gazipur a total of 1.01 acres of land of the United Tobacco Company Limited, 1.77 acres of land of Bangladesh Glass Industries have been designated for sale. The sub-registrar office of Gazipur has set the land price at Tk 26.64 crore for United Tobacco Company but the actual market price of the land is almost Tk 75 crore. The price of Bangladesh Glass Industries land has been set at Tk 28.83 crore as against its market price of Tk 100 crore, respectively, sources said.

Besides, a 2-acre of land of Metal Package Limited in Tejgaon industrial areas has also been chosen for sale. The local sub-registrar office has determined Tk 103.20 crore as its price However, local land brokers said 2 acres of land at Tejgaon is pricier---nearly Tk 300 crore.

The sub-registrar office has chalked out the price of Mimi Chocolate industry in Tejgaon industrial area at Tk 51.60 crore for one acre of land whereas its market price is not less than Tk 150 crore, some stakeholders said.