Private sector faces too many odds

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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 competitive. This means that they are given vital supports in areas where they deserve such supports
But our entrepreneurs here are sweepingly or blatantly accused of defaulting on loans when the government's corporations and the state-owned enterprises (SOEs) under them are the worst defaulters in their payments. Why are the private sector entrepreneurs then 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 debts not repaid whereas private sector entrepreneurs are dragged to court in many cases for defaulting on loans due to adverse business conditions and for no fault or lack of intention on their part to repay loans.
Allegations are too frequently heard that the entrepreneurs take money from the banking system not to return the same. But where is the environment for the entrepreneurs to successfully engage in business, make a good enough profit and return the money with interest?
First of all, the interest rates charged on loans are unrealistically high. Entrepreneurs face the menace of extortion as well as insecurity, skewed tariffs and the like that help the sale of imported products and not their domestic equivalents. Insufficient and unreliable power supply, poor infrastructure, bad port conditions, etc., are also the hurdles they have to face everyday.
Therefore, an enabling environment must be created first for the entrepreneurs. They are not to be always made the whipping boys unfairly. Only mud-slinging at them will not help. The law should apply equally to civil servants and the entrepreneurs alike for real lapses. Only then there will be respect for law and the pressure created for everybody to abide by law.

Saiful Karim
Eskaton, Dhaka