ABSTRACT
Bangladesh emerged as a new nation in the wake of a bloody liberation war in 1971. The ravages of the war warranted a significant public sector role in the reconstruction efforts. In industry and commerce a large number of units were abandoned by non-local owners, forcing the government to take them over. The government in exile, immediately upon return to the capital, had to take steps to bring under its control and management all abandoned properties. On 2 January, 1972, under Presidential Order 725, industrial units were taken over by the government. Boards of management were established for such units but they were badly managed, largely due to lack of experience and the greed of the managers to make money quickly. The next step was the establishment of a government monopoly in international shipping under another Presidential Order 10, dated 29 January, 1972.
