But we as a nation did not have any other choice. The close-down was a culmination of years of corruption, inefficiency and bad bureaucracy. The people who were involved in running the affairs of the Adamjee are to be held responsible for its closure. The same holds true for the four jute mills in question. We as a nation cannot afford to pay for the greed and corruption of few people forever.

It is true that the closing of factories is a painful process for the workers whose very livelihood is pushed out of business. But the government does have adequate compensation package for the displaced workers. And there is always the possibility of regaining employment once those mills start functioning again under private management.

While the private sector jute mills are running profitably, there is no point in letting the government-owned ones to bleed scarce public resources when there is scope for improving their performances under private management. Then why should the government allow a privileged few to get richer through corruption and mismanagement at the expense of greater national interest?

Our Finance Minister knows it more than anyone else that the very concept of public involvement in running commercial enterprises is an obsolete idea in today's world. Why then this reversal of policy? The vested interests of a few cannot take precedence over the greater national interest. The earlier the government realises this and takes the courage to withdraw itself from commercial ventures and removes obstacles for the market forces to operate properly, the better it is for the country.