Wealth from waste

We laud the initiative of Bangladeshi entrepreneur Khadem Mahmud Yusuf who has started to industrially recycle plastic bottles that will rid the environment of a perennial nuisance and will save millions of the government exchequer that are spent on the import of raw materials used to manufacture these bottles. They are primarily used for bottling beverages and are most of the time discarded after use, adding to a string of environmental hazards. Worse still, because they are not biodegradable and semiporous, their disposal poses a serious threat. As the bottles absorb the molecules of the food or beverage when they are dumped in the landfill sites, there is always a risk of the residues being seeped into the water supply chain.

Besides this, Yusuf's enterprise is unique on many counts. It is an import substitute venture that is going to save USD 225 million a year on import of raw materials and will reduce the emission of 13,500 tonnes of greenhouse gas every year. And all this from what is carelessly littered, destined for the landfill sites.

We believe that it is incumbent upon the government to pave the way for ventures like Yusuf's to flourish. Yusuf, with his long stint in the Silicon Valley has been successful in attracting venture capital from the US, which is difficult for a young Bangladeshi entrepreneur to obtain. We urge the government to take immediate steps towards the generation of a fund that will make interest-free loan easily available for startups and other new businesses. To foster economic growth, we need to focus on giving support to new ideas, especially those coming from private individuals. Yusuf is an example of the resilience and the indomitable spirit of this land.