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Set up separate SME bank

DCCI leaders urge government during a meeting with industries minister

FE Report | April 02, 2019 00:00:00

The Dhaka Chamber of Commerce and Industry (DCCI) has placed a set of demands, including establishment of an SME bank to help boost the country's small and medium enterprises (SME).

The chamber also called for imposing higher tariffs on imported SME goods and reducing electricity tariff and taxes for the local SME industries in order to protect the sector.

The demands were made on Monday when the newly-elected office-bearers of the DCCI, led by its President Osama Taseer, met with Industries Minister Nurul Majid Mahmud Humayun at his office in the city on Monday.

Emphasising the importance of setting up a separate SME bank, the DCCI leaders said that the bank will help enhance competitiveness of the local industries.

Osama Taseer advocated for allowing back to back LC for industries which are getting priority like ready-made garment (RMG) sector.

He also proposed to form an 'FDI Development Task Force' in order to attract foreign direct investment especially in agro-processing, pharmaceuticals, leather, light engineering, and jute and jute goods sectors.

Supporting the demands of the trade body, industries minister Nurul Majid Mahmud said SMEs are contributing a lot to the economic development in the country and creation of employment opportunities.

That is why the government is committed to facilitate businesses, said the minister.

He emphasised on skill development of SME, product diversification and new market exploration, protection for SMEs and single digit interest rate for SMEs.

He assured that the government is committed to solving any problem of the business community on a priority basis.

"The government is working to promote the SME sector, and the SME sector would ultimately contribute to the country's economy," he said.

He urged the business community to come up confidently to invest more in various potential sectors.

The DCCI leaders also proposed the government to form a separate fund under government-private partnership to invite investment in the country's industrial sector.

DCCI Senior Vice President Waqar Ahmad Choudhury, Vice President Imran Ahmed, directors Andaleeb Hasan, Ashraf Ahmed, Alhaj Deen Mohammed, Enamul Haque Patwary, Hossain A Sikder, Md. Rashedul Karim Munna, Nuher L. Khan and S.M. Zillur Rahman were present and also spoke.

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