Software engineers should read, no matter companies give them special time slot for reading or not. Companies take only 8 to 10 hours of a day. What about rest hours? A good engineer reads everyday, one to two hours at least. 4/5 hours in the weekend. You don't have to go far, we have many examples of that kind of SE right here in Bangladesh.
I think SE is a profession which is more like an artist, a musician, a writer or a doctor. To be a good professional of these kinds one need to merge his/her hobby and work. If you are not that passionate or committed, don't nag by saying your company doesn't allow you time for R&D. Go and find some other job for living. Be an accountant for example. Accounting practice is almost same for last 50 years. In IT, if you are out of touch for a year, you are an alien.
IT industry in BD is not yet in R&D mode. We are still playing at the lower end of the value chain. Whose primary responsibilities is it to promote ourselves to higher value chain? Businessmen? Not really.
IT industry is always dominated by geeks. And it is engineers’ primary responsibility to bring in innovation, learn high value job and gradually create a situation where R&D becomes part of the company’s job.
So, if your project manager is mean enough not to allow you reading tech stuff when you are free, do it at home. Learn and implement some interesting things in your work and show your manager how your learning helped the company to yield customer satisfaction or save time of the developers. Maybe your manager will change mind.