The initiative has been speeding up recently as the Prime Minister's Office (PMO) asked the Board of Investment (BoI) to conduct a survey in this connection.

Different intelligence agencies reported to the PMO that some foreigners are involved in suspicious activities in Bangladesh.

A high level committee headed by the additional secretary to commerce ministry will meet today to take further action regarding the matter.

The committee will prepare a list of foreign owned and joint venture department stores, shopping malls, restaurants, liaison offices and shared offices.

It will review the economic impact of the operations of these offices in Bangladesh and assess whether the foreigners working in those offices have valid permissions.

The committee will also prepare a report suggesting whether these foreign owned business ventures are actually contributing to Bangladesh economy.

If the committee finds the foreign business ventures unnecessary for Bangladesh economy it will suggest bringing changes in the foreign investment policy to curtail or ban the operations of those business entities.

BoI sources said some intelligence agencies, especially the special branch, alleged that around 50,000 foreign workers are working in Bangladesh without having work permits or valid approvals.

A high level committee headed by the BoI executive chairman in January 2005 in a report said around 100,000 foreigners are working in Bangladesh without work permits.

The report said these foreign workers are working in different service sectors especially in hospitality, medical, consultancy, banks, schools and information technology as well as manufacturing sectors like textile, pharmaceutical and cement industries.

It said the workers mainly from India, Pakistan and Sri Lanka came to Bangladesh to earn fast money by setting up new kinds of business houses.

Later, BoI made it mandatory for all foreign investors to prove cash investment of US$50,000 in the country for setting up any liaison office or any business house, prompting some foreigners to wind up their businesses.