Economic Reporter :
The Federation of Bangladesh Chambers of Commerce and Industry (FBCCI) President Matlub Ahmed on Wednesday demanded loan at nine per cent for the SME entrepreneurs with a view to flourishing the sector across the country.
He urged the government as well as the central bank to undertake more favorable policies to promote the SME entrepreneurs across the country.
“We have lot of opportunities to flourish the SME sector and the development of the sector can ensure a sustainable economy”, said the FBCCI President while addressing a discussion on “Challenges and Opportunities of the SME Sector” in the conference room of the FBCCI in the city. FBCCI Standing Committee on SMEs organized the meeting.
Access to finance is one of the major problems to the sector across the country, FBCCI President claimed. “Although, the entrepreneurs of the sector are availing SME loan from different financial institutions, but the rate of interest is still very high which is increasing the cost of doing business”, FBCCI President said.
The rate of industrial loan declined, but the rate of SME is still unchanged, Matlub Ahmed claimed. “Banks have to reduce the rate on deposit to allocate low rate for the SME entrepreneurs”, said FBCCI President.
Addressing as the chief guest, the Industries Minister Amir Hossain Amu asked to cancel the allotment of unused land in Bangladesh Small and Cottage Industries Corporation (BSCIC). “Already, we instructed the concerned authorities to implement the order effectively”, said the minister.
The government is working for the further development of SME sector of the country. “Economic disparity between the rural and urban already declined due to the policy and logistic supports of the government”, said Amu.
Bangladesh Bank Deputy Governor SK Sur Chowdhury said that the central bank had already taken a lot of initiatives to develop country’s SME sector.
The central bank is encouraging commercial banks to give loan at low rate among the SME entrepreneurs for expanding their business. “We are sincerely working to reduce the lending rate on SME loan for attaining a vibrant economy”, said the Deputy Governor. The loan rate of SME loan will decline soon, declared the governor.
The central bank already asked the financial institutions to allocate single digit SME loan to the women entrepreneurs. Bangladesh Bank is always monitoring the financials institutions regarding the loan disbursement position of the SME loan.
Already central bank asked the financial institutions to disburse at least 10 per cent loan to the SME sector out of their total credit.
Industry Ministry Secretary Mosharrah Hossain Bhuiyan said that a good number of roads and drainage systems of BSCIC areas are on a worsen condition. ‘We have gas and electricity crisis in the BSCIC areas, some 23 BSCIC have no gas connection, he said.
The development of industrial sector along with agriculture sector is crucial to achieve the targeted GDP growth, said the secretary.
The Federation of Bangladesh Chambers of Commerce and Industry (FBCCI) President Matlub Ahmed on Wednesday demanded loan at nine per cent for the SME entrepreneurs with a view to flourishing the sector across the country.
He urged the government as well as the central bank to undertake more favorable policies to promote the SME entrepreneurs across the country.
“We have lot of opportunities to flourish the SME sector and the development of the sector can ensure a sustainable economy”, said the FBCCI President while addressing a discussion on “Challenges and Opportunities of the SME Sector” in the conference room of the FBCCI in the city. FBCCI Standing Committee on SMEs organized the meeting.
Access to finance is one of the major problems to the sector across the country, FBCCI President claimed. “Although, the entrepreneurs of the sector are availing SME loan from different financial institutions, but the rate of interest is still very high which is increasing the cost of doing business”, FBCCI President said.
The rate of industrial loan declined, but the rate of SME is still unchanged, Matlub Ahmed claimed. “Banks have to reduce the rate on deposit to allocate low rate for the SME entrepreneurs”, said FBCCI President.
Addressing as the chief guest, the Industries Minister Amir Hossain Amu asked to cancel the allotment of unused land in Bangladesh Small and Cottage Industries Corporation (BSCIC). “Already, we instructed the concerned authorities to implement the order effectively”, said the minister.
The government is working for the further development of SME sector of the country. “Economic disparity between the rural and urban already declined due to the policy and logistic supports of the government”, said Amu.
Bangladesh Bank Deputy Governor SK Sur Chowdhury said that the central bank had already taken a lot of initiatives to develop country’s SME sector.
The central bank is encouraging commercial banks to give loan at low rate among the SME entrepreneurs for expanding their business. “We are sincerely working to reduce the lending rate on SME loan for attaining a vibrant economy”, said the Deputy Governor. The loan rate of SME loan will decline soon, declared the governor.
The central bank already asked the financial institutions to allocate single digit SME loan to the women entrepreneurs. Bangladesh Bank is always monitoring the financials institutions regarding the loan disbursement position of the SME loan.
Already central bank asked the financial institutions to disburse at least 10 per cent loan to the SME sector out of their total credit.
Industry Ministry Secretary Mosharrah Hossain Bhuiyan said that a good number of roads and drainage systems of BSCIC areas are on a worsen condition. ‘We have gas and electricity crisis in the BSCIC areas, some 23 BSCIC have no gas connection, he said.
The development of industrial sector along with agriculture sector is crucial to achieve the targeted GDP growth, said the secretary.
