FBCCI urges IMF to help reform pvt sector policy

The country's apex trade body has proposed that the International Monetary Fund (IMF) sign a memorandum of understanding (MoU) for policy reforms in the private sector.
The acting president of the Federation of Bangladesh Chambers of Commerce and Industry (FBCCI) Monowara Hakim Ali made the proposal during a meeting with the Deputy Managing Director (DMD) of the IMF Naoyuki Shinohara on Tuesday in the city.     
During the meeting the FBCCI and the IMF discussed on the latest economic situation of the country and the role of the private sector in Bangladesh.  
The FBCCI leader urged the IMF to work with the trade body through maintaining regular communication. She said both the IMF and FBCCI could work together for the development of private sector in Bangladesh.
She also proposed the IMF signing an MoU with the FBCCI for policy reforms in the private sector of the country.
She said the private sector in Bangladesh could work with the IMF in the field of banking, trade and investment, import and export and expansion of small and medium enterprises (SMEs) sector in the country.
Mr Shinohara said his multilateral agency works with the ministry of finance. He regarded the dialogue with the private sector as significant. He suggested regular meeting between the IMF and the private sector could be held either quarterly or yearly.  
He said that IMF could play a supportive role in resolving different issues of the private sector.   
He suggested speedy implementation of reforms, reducing non-performing bank loans, ensuring credit growth and modernisation of related rules and regulations that are important for the development of Bangladesh.
Directors of FBCCI Abdul Haque, Safkat Haider, AKM Sahid Reza and Shahedul Islam Helal, Golam Mohiuddin, KM Jaman (Romel), MA Momen and adviser Manjur Ahmed among other were present.