PM assures businessmen of lowering bank interest rate

Prime Minister Sheikh Hasina urged the businessmen to pay taxes properly saying that increased revenue will help the government to build infrastructures to generate power and explore gas for greater interest of industrialisation in the country, report agencies. She made the call while handing over the National Export Trophy- 2011 on Thursday at a function jointly organised by the Ministry of Commerce and Export Promotion Bureau (EPB) in the city. Describing her government as businessmen-friendly, Sheikh Hasina assured the entrepreneurs of her government's support for setting up new mills and industries and increase production to alleviate poverty and create employment opportunities. "We want to make progress through public-private partnership (PPP) in the greater national interest," she said and asked the industrialists to be more passionate on the employees for the sake of increasing production. She told the industrialists to provide more facilities to the workers and said that attention to workers' welfare would increase production that would ultimately bring more profit for the owners. A total of 19 industries were awarded gold trophies, while 13 silver and seven bronze respectively for their outstanding contribution to the country's export sector in 2008 and 2009. The distribution of National Export Trophy remained suspended during the time of the last BNP-Jamaat government. Referring to the businessmen's demand for lowering interest on bank loan, she said that she would discuss the matter with the finance minister and the Bangladesh Bank governor as to how to meet the demand. She assured the businessmen of actively considering reduction of bank interest rate on industrial loans from the present rate of 18 per cent. On power situation, she expressed the hope that her government would be able to solve the crisis in near future as it is not possible to solve power and gas crisis overnight. Regarding market of Bangladeshi products, the Prime Minister asked the entrepreneurs to explore the domestic market along with international markets. "You, the businessmen, have to keep in mind the huge domestic market due to its population size and consumption volume," she added. She said her government has ensured congenial investment and business environment in the country through initiating PPP policy. The Prime Minister said her government has provided Tk 55 billion incentive package to the exporters to meet the onslaught of world economic meltdown and rescheduled bank loan along with raising time of releasing indemnity bond. Hasina said that as communication is very important to facilitate export and import, her government has been working to develop the sector across the country. She said the Dhaka-Chittagong and Dhaka-Mymensingh highways are being expanded to four-lanes while railway and waterways are being developed to ensure quick transportation of goods. Hasina said the government has taken steps to increase exports to the South Asian Association for Regional Cooperation (SAARC) member countries under the South Asian Free Trade Area (SAFTA) agreement while measurers have been taken to increase export to Bangladesh, India, Myanmar, Sri Lanka, Thailand Economic Cooperation (BIMSTEC) countries. Chaired by Federation of Bangladesh Chambers of Commerce and Industry (FBCCI) president AK Azad, the function was also addressed by Commerce Minister Faruk Khan, Commerce Secretary Golam Hossain and Export Promotion Bureau (EPB) vice-chairman Jalal Ahmed. The Prime Minister alleged that the BNP-Jamaat forces during their last two regimes had taken the country's trade and commerce on the verge of ruination. "Some seasonal and dishonest businessmen appeared on the scene just to plunder public money in the name export and import," she said. The Prime Minister said: "Under direct patronage of the BNP-Jamaat forces, some businessmen manipulated the GSP facilities from 1992 to 1995 while export of garment products and frozen foods also came to a standstill due to corruption and irregularities."