S Alam Group needs government support

  • Nesar Ahmed, Barta24.com
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Photo: Collected

Photo: Collected

Chattogram is a unique geographical city with thousands of years of tradition and history. Known as the Queen of the East, Chattogram has been known as the center of trade and commerce since ancient times. Industry and trade have played an important role as the driving force of Chattogram country's economy in all fields. Arab, European, Chinese, Afro-Asian merchants have preferred Chattogram for trade purposes since early times due to its port and harbor, known as a commercial city or an industrial city. As a result, Chattogram and Chattogram residents have been known all over the world as merchants or traders for thousands of years. In continuation of that reputation, legendary traders, businessmen, industrialists were born in Chattogram. They have spread the scope of their business from country to country with talent and skill.

Assam Bengal Railway headquarters was established at Chattogram during the British period due to geographical infrastructural advantages. During the Pakistan period, large industries such as steel, motor vehicles, jute, textiles, yarn, tobacco, medicine etc. were established in Chattogram. Also at that time several multinational industrial and commercial companies, major Bengali-owned banks and insurance offices were established in Chattogram. Among the handful of Bengali entrepreneurs and industrialists who were able to establish themselves in the sixties, AK Khan, Mirza Abu and MR Siddiqui were from Chattogram. At the present time, in continuation of the various industrial groups of Chattogram such as, A. K. Khan, Ilyas Brothers, Alhaj Khalilur Rahman's KDS Group, Akhtaruzzaman Chowdhury, TK Group, S Alam Group and other industrial groups have expanded their industries with pride. But this development and enlightened chapter of Chattogram has never been seen well by the self-interested circles. Starting from that Pakistan regime till now, their jealousy, conspiracy and revenge have repeatedly tried to deprive Chattogram from all stages. The success of businessmen and industrial entrepreneurs of Chattogram has been the cause of their destruction. Attempts have been made to humiliate the industrial owners of Chattogram through trickery and propaganda. The present time is no exception. A reputed newspaper of the country has regularly entered into a competition to capture the character of businessmen of Chattogram. There isn't a compelling story they haven't created. Just looking at their language shows how shameless the violence and vindictiveness can be! I am trying to talk about S Alam Group, the main victim of revenge and conspiracy, the famous industrial group of Chattogram and the savior of common people and the leader of this group, Saiful Islam Masood. I am trying to present to the people what I see in my eyes as a common man.

বিজ্ঞাপন

S Alam Group, which started its journey in the eighties with the transport business, has today built a business empire worth thousands of crores of takas. The group successfully managed business by taking loans from banks, owning several banks and using them for business. Has conducted the business with credit till date, but has never defaulted on the loan. He is being accused by the country's media of money laundering abroad. Conspiracy to invest abroad? Doing business abroad means money laundering abroad? S Alam has legitimately ventured into business at the international level. As foreigners have invested in this country. Likewise S Alam has also invested abroad. What could be wrong with it? However, if there is any inconsistency or any irregularity, the government can correct it. But what is happening now is a kind of unprovoked and conspiratorial attack, which experts believe is a step towards ruining a well-established institution of the country.

An appeal to all sensible people of the country, regardless of party affiliation, speak up to protect S Alam Group. As a common citizen, I am forced to make this application. Today at this time it is not only S Alam's fight alone, it is a united fight of all of us. It doesn't take long to destroy an institution, but it takes years to build. This long hard-earned achievement of S Alam cannot be allowed to end overnight. Let us all protect S Alam group from this conspiracy, stand by them. It is our humanitarian responsibility not only to protect this industrial group but also to protect the commercial heritage of Chittagong, our Queen of the East. To protect the country's economy.

Let's all unite and stand against this conspiracy against Chattogram. In our national interest and for the greater welfare of Chattogram, all should come forward together to protect S Alam Shilpa Group from the conspiracy to destroy it. Especially for Chattogram residents, this is a time of great calamity. The need of the hour is to sustain the employment of millions of workers. S Alam Industries Group has become known as a prestigious company in domestic and foreign circles. Today that institution is being pushed towards bankruptcy by anti-Chattogram/ tactics. I am calling on everyone to come forward to save S Alam from this difficult situation of the country and request to understand the real truth.

S Alam Group has reached this position today through hard work, talent and creativity over a long period of time. Not at the mercy of anyone. For one reason or another it is a victim of conspiracy today. The fortunes of millions of people are associated with this group, and their contribution to the country's economy is also significant. where we see Nine hundred percent unemployment could not be eradicated, there to save millions of working people from the scourge of bankruptcy by bankrupting S.Alam.

Seeking direct intervention of Chief Adviser to the Interim Government. Today this conspiracy is not only against S Alam, this conspiracy is against the development of Chattogram.

S Alam is a well-established and prestigious institution, which has earned a reputation both domestically and internationally. If this institution is destroyed, it will send a negative message to foreign investors about Bangladesh's business and investment environment. In the future investors will lose interest to invest in this country. If workers lose their jobs, millions of workers and their families will face social and economic crisis. Unemployment will have a negative impact on their children's education, health and quality of life. In this situation, crime trends may increase, which will destroy social stability.

What could be the reason for the unbridled conspiracy against S Alam group? Analysis shows-

Conspiracy is going on to destroy S Alam's business to strengthen their position in the competitive market. They are using a class of so-called intellectuals and media in this work. Such enmity and immature business tactics are the main driving forces behind this conspiracy.

The group's unparalleled consistent success and their strong leadership have displeased a class of Chittagong haters. They feel that the success of S Alam Group is tied to their interests.

There may be political reasons behind it. Many times a successful organization is tried to make it act against its interest by applying political influence and pressure. Protecting the interests of the opposition and some influential circles in the country are trying to destroy the S Alam group to protect their own interests. This conspiracy started from the time of Awami League government. Their aim is to control the market and leave other competitors behind.

At present, it is important to build public support for the sake of the country and the people. It is very important for this business organization to build people's support for the sake of the country's economy by telling the truth to the countrymen through reporting and writing negative news. It is vital not only to protect an institution, but also to protect the national interest.

One thing needs to be said: S Alam is more of an investment than a loan.

Bangladesh is now considered as the fifth tiger economy in Asia due to its continuous success. Although it may sound unrealistic today, a few decades ago even emerging economic powers were termed as a 'bottomless basket' on the world stage.

According to statistics, Bangladesh has become the 35th largest economy in the world, ignoring the scourge of hunger, famine, natural disasters. The London-based Center for Economics and Business Research (CEBR) predicts that it will become the world's 20th largest economy by 2038.

This outstanding success of Bangladesh would not have been possible without the contribution of this group. As mentioned earlier S Alam Group is one of the largest industrial organizations based in the port city of Chattogram.

The group has consistently invested thousands of crores of takas in setting up essential goods, power sector, imports and refining, economic zones, health, textiles, IT and other businesses for more than 37 years since 1985.

According to The Business Standard Google and The Business Standard's Google News Channel, more than 200,000 people have been directly employed as a result of the industry group's initiative.

Most of the domestic oil, wheat and sugar needs are being met through six edible oil and two sugar refineries. In order to strengthen the hands of the government to meet the needs of the domestic consumers, it has been playing a leading role in the import and processing of essential products like sugar, wheat, gram, onion, oil in the country's market.

According to statistics, the company imported 750,000 tons of sugar in 2023, worth 49 million dollars. In the last three years (2020, 2022, 2021), the amount of sugar import is 14 lakh 82 thousand metric tons, the value of which is 82 crore 61 lakh 98 thousand 500 dollars.

In addition, 520 thousand tons of wheat were imported last year, the value of which is 145 million 56 million dollars. In the statistics of three years (2020, 2022, 2021), the amount of imported wheat was 16 lakh 10 thousand tons worth 49 crore 58 lakh 90 thousand dollars.

The total demand of palm and soybean oil in 2023 was about 3 lakh 12 thousand 480 metric tons, where palm oil was about 2 lakh 75 thousand 779 metric tons and soybean oil was about 700 metric tons. Its financial market value was about 25 crore 91 lakh 47 thousand 152 dollars for palm oil and 4 crore 19 lakh 1 thousand 72 dollars for soybean oil. In the last three years (2020, 2022, 2021), the total amount of oil import was 13 lakh 106 metric tons, the value of which was 156 crore 82 lakh 42 thousand 331 dollars.

S Alam has met 30, 20 and 35 percent of oil, wheat and sugar demand in the domestic market. The plan was to fulfill 50 percent this year.

S Alam Group currently has six edible oil refineries and two active sugar refineries. Another project is under construction. 4 thousand 800 metric tons of edible oil and 5 thousand 100 metric tons of sugar are refined daily in this project using European technology in self financing. Two of these sugar refineries are located in Chattogram. The under-construction Mega Sugar Refinery is planned to be completed and put into production by 2026.

The country's first large private coal-based thermal power plant in Chattogram's Banshkhali. The project is currently in production. SS power plant with a capacity of 1320 megawatts has been built with an investment of more than 2.6 billion dollars or 28 thousand crore rupees. The S Alam Group has a 70 percent stake in the project, with the remaining 30 percent owned by Chinese companies, SEPCO 3 and HTG.

The power plant was integrated into the national grid last year, comprising two units, each with a capacity of 660 MW. The first unit was inaugurated on September 18, 2023 and the second unit on October 26, 2023. The special feature of this project is that its power generation is more cost-efficient than many other power plants.

Proposed here is a mega project undertaken by green and renewable energy. Recently, as per their plan, combined cycle power plant will be set up in Chiattogram's Banshkhali and the expected capacity is 3000 MW. The power plant will be able to provide 50 percent green energy from the start and then gradually increase it to 100 percent. The investment in the project is about 3 billion dollars and it is planned to be implemented in 2027. This project will create direct employment opportunities for around 5000 people. Besides, one lakh people will benefit indirectly there.

Eco-friendly technologies from leading technology companies such as GE, Siemens and Mitsubishi will be deployed in green and renewable energy. Due to the unique nature of this project, the country will benefit from carbon taxes as per the Paris Agreement.

S Alam Group started galvanizing and steel sheet production process in 1995. These factories are located in Chattogram and Narayanganj. In Japanese and Italian technology based factories, 'CI and GP Sheets, Color Coated CGI Sheets, Cold Rolled Steel Sheets and many more are manufactured. The investment in these galvanizing plants and flat rolling plants is worth 640 million dollars and more than 2000 employees work in this industry. The total production capacity of four units of galvanizing industry is about 930 MT per day. Besides, the annual production capacity of two flat rolling plants is 240 thousand metric tons.

S Alam Group started Portland Composite Cement Factory at Charpatharghata in Chattogram from 2000. More than 1500 employees work in this company built with an investment of 130 million dollars. Using German technology, this unit has a daily production capacity of 1200 metric tons

With an investment plan of more than TK. 58,000 crore and the government's vision of creating 50,000 jobs, S Alam Group plans to create two private economic zones. The project of 'Bashankhali S Alam Economic Zone 1' with 184 acres of land and 'Bashankhali S Alam Economic Zone 2' with 259 acres of land is in progress.

Tk. 58 thousand crore domestic and foreign investment plan for these two special industrial zones. Where 35 thousand crores for power sector, 15 thousand crores for HR coil sector, 7500 crores for DRI plant sector and 500 crores for private economic zone. More than 400 acres of land will be added to 'Bashankhali S Alam Economic Zone II' in coming days and there are plans to set up some medium and heavy industries in joint venture with Japan.

The two Special Economic Zones described which are currently under construction in Chattogram, will create more than 50,000 new jobs and generate huge amounts of foreign exchange once they start operating. From which the government will get huge amount of revenue.

This organization is working on a plan to invest 200 million dollars in the healthcare sector to serve more than 5 lakh people. They have established clinics, hospitals and diagnostic centers in major cities under their financial institutions. Their mission is to provide free medical care to the underprivileged and make healthcare more accessible to all. S Alam Group has launched S Alam International Hospital project in Chattogram with an eye towards human services, which is nearing completion. It will serve people in the departments of Oncology, Cardiology, Nephrology, Endocrinology, Orthopaedics, Paediatrics, Gynecology and Maternity Care etc.

The group has also undertaken plans to expand healthcare by setting up medical and nursing colleges and other medical facilities in various parts of the country. Under this project land development work has been done in Purbachal, Bashundhara and other areas.

This initiative of S Alam Group's health services will create employment for more than 5 thousand people. With an investment of 200 million dollars based on European, Indian and East Asian business partnerships, the project will be able to serve 500,000 people continuously.

Finally, after analyzing the mentioned issues and business investment and planning of S Alam Group, it can be seen that to what extent an organization can be proactive in the development of the country? I saw in South Korea, how can businessmen build a country into a developed economy?

In our country too, the South Korean industrial group 'Yongwon' is enriching the country by making huge investments. As such, it is necessary to cooperate from the government level without minimizing the contribution of S Alam Group in the development of the country's economy so that they can help in the development of the country. Let creation not destruction be our goal. It is not my intention to belittle anyone. For the sake of the country, for the sake of economic development of the country the interim government needs to come forward with a helping hand to keep the institution alive.