Women entrepreneurs seek single-digit lending rates

The Women Entrepre-neurs Association of Bangladesh (WEAB) on Sunday urged the government to set single-digit lending rates for female entrepreneurs and lower VAT rates on different items before the approval for the next budget.
The women entrepreneurs suggested that the government should provide a well-outlined implementation strategy on how the allocated fund for gender budget would be spent.
They came up with the call at a post-budget press conference held in its office in Sonargaon Road area of the capital.
WEAB president Nasreen Fatema Awal, its first vice-president Tazima Mojumder, executive member Anjuman-ul-Ferdousee and other members, among others, were present on the occasion.
Addressing the press conference, Ms Fatema Awal says that the issue of women and child has been overlooked in the proposed budget.
"We are not brave enough to say that the proposed budget has been a pro-people one."
The government's plan to borrow around Tk 1.5 trillion from banks is an ominous sign for the economy, she said without elaborating further.
Highlighting women entrepreneurship in the country, she said that due to absence of a government strategy, plans and instruction, many female entrepreneurs fail to obtain large-scale loans. Many women cannot access large loans since they do not have equal rights to patrimony to be used as collateral.
The WEAB president also said increased rates on value added tax (VAT) in the proposed budget might push small entrepreneurs, especially women, at bay since it would increase the cost of procuring raw materials used by many small entrepreneurs.
Responding to queries, she said the government allocation of Tk 52.22 billion to the women and children affairs ministry should have clear instruction on which sector to be prioritised for women's economic development.
"The allocation should focus on enhancing women's skill development programmes and their access to loans," she suggested.
The WEAB recommended providing budgetary allocation with specific proposals to promote micro, cottage and women entrepreneurship under the government management.
The entrepreneurs who usually become the worst victims of any natural catastrophe should get a special stimulus package from the government, for which there should also be budgetary allocation.
The women entrepreneurs also asked for opportunities to present their arguments at the pre-budget meeting with the government authorities concerned.
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