Support for shipbuilding

The government is planning to floating a Tk 50-billion fund to support the country's shipbuilding industry, according to a report published by The Financial Express on September 10. Arrangement of bank loans at 4.0 per cent interest rate with a 25-year repayment period is also being considered reportedly as part of the government's effort to promote this industry. It may be offered tax holiday facility as well for 10 years to help the sector grow further. We appreciate the initiative to provide a potential industry with long-term credit facility.

However, the government should try to bring down the overall interest rate to below 10 per cent so that all industries and individual entrepreneurs could benefit from the facilities. Equitable fiscal incentives should be provided to all potential industries that contribute to growth of gross domestic product (GDP) and create employment opportunities. We think, the government should extend all types of administrative supports -- in cases by improving governance -- to help the industry sustain and grow.

Md Ashraf Hossein

Central Bashabo, Dhaka