In the last few months there had been unending series of writings and lectures on the grim possibilities of TATA investment. Some people rarely see anything positive in it. From my layman's point of view I note the following silver linings in this so-called dark cloud:

(a)TATA investment would be the biggest FDI, so far, to the tune of 2.5 to 3 billion USD. Our economy will receive a big injection of foreign capital.

(b) It will give the right signal to other investors.

(c) It will create jobs in the north and western parts of Bangladesh and speed up local business and small enterprises. That part of the country is endowed with broad gauge railway system, good road network connected by the Jamuna and Pakshi Bridge and the latest Rupsha Bridge, and is ready to take off if we plan it right.

(d)We have to face the reality that GOB will not be able to meet our power shortage, which will continue to grow worse as more areas are electrified. The Private sector should be encouraged to invest in a big way and utilise our coal to be mined by Asia Energy. For, every MWT electricity that is supplied to the farmers and small entrepreneurs will bring back a return of about 10 times, while at the same time failure to do so will also cause similar damage to the economy.

(e) In last 10 yrs there had been no new fertilizer plant. There is a big gap between demand and supply and GOB has to import urea at international price. When required GOB can buy from the TATA Fertilizer plant and it will save freight and avoid congestion of the seaports.

(f) There is a hue and cry from the local steel plants and re-rolling mills that TATA steel plant will put them out of business. Time and again TATA had clarified that their products would not compete with local industries. Rather, they can buy from TATA the steel plates they import. It must be said that buying from TATA will deprive them the benefit of over- invoicing and some customs officials will be poorer.

(g) GOB will have 10% equity and hence 10% share of the profit.

We should realise that Bangladesh cannot support a population of 140 million and we will remain dependent on importing our daily necessities. In order to create employment and increase purchasing power we have to go for rapid industrialisation. For this Indian capital will play a big part and TATA is probably the most progressive investor. Let us be guided by our heads and not by emotion, prejudice and phobias. Mixing business with politics is dangerous.

The main stumbling block in the way of TATA investment is the supply guarantee of gas and the gas price. Of course, the price offered by TATA is rather low and hence not viable. Why not allow TATA to negotiate directly with the IOC like UNICOL or Nikko and reserve their 2.2 tcf of gas. This will also boost gas exploration by the IOC.

Lastly, I refer to the recent article in The Daily Star on this subject by Mr Tanwir Nawaz, a noted urbanist, where he referred to tri-national gas pipeline between Myanmar, Bangladesh and India. I fully agree with his view that Bangladesh should welcome this project unconditionally and gain in a big way.

While I put forward the above points I may be wrong in some of my contentions and would therefore welcome free discussion and some enlightenment from knowledgeable quarters.