Where is the level playing field for entrepreneurs?
Monday, 8 November 2010
IN many countries, the entrepreneurs are allowed the vital level playing field. They are not spoon-fed but government policies at least try to keep them afloat. This means that they are given vital policy and other related supports in areas where they deserve the same.
But our entrepreneurs here are often sweepingly accused of defaulting on loans when the government's corporations and the state-owned enterprises (SOEs) under their wings are the worst defaulters in repayments. Why then are the private sector entrepreneurs singled out for blame? Law, to be fair, should apply equally to all.
Government officials get promoted though the bodies they serve are too burdened with unpaid debts whereas, private sector entrepreneurs are dragged to court in many cases for defaulting on loans due to adverse business conditions and no fault or lack of intention on their part to repay the loans.
Allegations are too frequently heard that the entrepreneurs take money from the banking system not to return the same. But there has to be a favourable environment, backed by a stable policy framework, for the entrepreneurs to successfully engage in business, make a modest profit and return the money with interest. There are various related issues here like the lending rate and ways of calculating the same, extortion activities, insecurity, skewed tariffs, insufficient and unreliable power supply, poor infrastructure, bad port conditions, etc.
Therefore, an enabling environment must be created for the entrepreneurs. They are not to be always made the whipping boys, unfairly.
Saiful Karim
New Eskaton, Dhaka
But our entrepreneurs here are often sweepingly accused of defaulting on loans when the government's corporations and the state-owned enterprises (SOEs) under their wings are the worst defaulters in repayments. Why then are the private sector entrepreneurs singled out for blame? Law, to be fair, should apply equally to all.
Government officials get promoted though the bodies they serve are too burdened with unpaid debts whereas, private sector entrepreneurs are dragged to court in many cases for defaulting on loans due to adverse business conditions and no fault or lack of intention on their part to repay the loans.
Allegations are too frequently heard that the entrepreneurs take money from the banking system not to return the same. But there has to be a favourable environment, backed by a stable policy framework, for the entrepreneurs to successfully engage in business, make a modest profit and return the money with interest. There are various related issues here like the lending rate and ways of calculating the same, extortion activities, insecurity, skewed tariffs, insufficient and unreliable power supply, poor infrastructure, bad port conditions, etc.
Therefore, an enabling environment must be created for the entrepreneurs. They are not to be always made the whipping boys, unfairly.
Saiful Karim
New Eskaton, Dhaka