Agar gets small industry status

E Report | Published: March 25, 2015 00:00:00 | Updated: November 30, 2026 06:01:00

Agar has been declared to be a small industry considering the employment opportunities it offers at the grass-root level.
After the declaration, 30,000 workers and 350 factory owners of this industry will get the facilities given by the government as small industry, according to a statement.
Industries Minister Amir Hossain Amu declared this at an Executive Committee of National Council for Industrial Development (ECNCID) Monday at the Ministry of Industries (MoI).
MoI organised the meeting to evaluate progress of implementation as per the decision of National Council for Industrial Development (NCID) that is chaired by Prime Minister Sheikh Hasina.
Agar wood is one of the most expensive non-timber wood products of the world.
Bangladesh is producing three major products namely Agar-wood, Agar-oil and Agar dust or powder in Agar wood sector.
It has multidimensional uses in perfume, cosmetics and medicine sector. Agar wood has traditional, religious and cultural uses in different parts of the world.
The draft of national industry policy 2015 will be finalised by April this year and it will be sent to the cabinet for approval.
It was recommended allocating a portion of the SME refinancing fund under the Bangladesh Bank for the SME Foundation so that it can finance small and medium entrepreneurs.
The meeting also asked banks and other financial institutions not to charge interest rate at 16 to 17 per cent in case of disbursing SME refinancing fund. Regarding logical use of land for industrialisation, industrial units will be set up on a priority basis at emerging char land, government 'khas' land and unused land of industries.
The tanners have to transfer the tanneries of Hazaribagh to Savar within the fixed time, the minister said, adding "no excuse will granted anymore."
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