Financial institutions invited to disburse subsidized loans among CMSMEs

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Government pledged to disburse pledged Tk 20,000 crore to help revive rural economy and jobs

Financial institutions and banks have disbursed around 40% to 50% of the pledged 20,000 crore package announced by the government last year for cottages, micro, small and medium enterprises (CMSME) which suffered greatly during the pandemic period, said Mirza Nurul Gani. Shovon, President of the National Association of Small Craft Industries of Bangladesh (NASCIB).

Mirza Nurul Gani Shovon, also CIP, suggested that a high-level committee should be formed including representatives from NASCIB, FBCCI, Bangladesh Bank and Bangladesh Bureau of Statistics (BBS) to monitor and review the loan disbursement process in the chalet, micro, small and medium enterprises.

He admitted a lack of proper and authentic statistics for the sector which needs to be improved in the best interest of the national economy.

He said 80% to 90% of CMSMEs are found in rural areas and the corona pandemic has hit the sector hard in the past two years.

Mirza Nurul Gani Shovon said that the revival of CMSME is important in the context of promoting and sustaining the rural economy of the country.

He requested the intervention of the central government to disburse the remaining 50 to 60% of the soft loans promised by the government among the CMSMEs.

The government has pledged to disburse the pledged 20,000 crore Tk to help revive the rural economy and jobs.

Mirza Nurul Gani Shovon said that around ten Lakh people are involved in the sector in different parts of the country.

“Ensuring transparent responses, based on data-driven policies, is essential to address the challenges induced by Covid for chalets, micro, small and medium-sized enterprises (CMSME), in particular women entrepreneurs, who face many challenges. multiple obstacles to accessing funding for government stimulus plans. ,” he said.

Meanwhile, Minister of Commerce Tipu Munshi said that Bangladesh is an economy based on agriculture, so business and government should focus on this sector including product diversification.

“We need to strengthen our SMEs for a better expansion of our economy,” he said.

Tipu Munshi made the remarks while addressing as the main guest at the inaugural ceremony of the new expanded office space of the Dhaka Chamber of Commerce and Industry (DCCI), DCCI Gulshan Center, on Saturday.

The Minister of Commerce also insisted on working harder to do better in all trade indices in order to be competitive in the international market.

He said that the new extension of DCCI (DCCI Gulshan Center) in the northern part of the city is a reflection of his strength and he hopes that DCCI will be able to further serve the business community in the days to come.

Jaim Uddin, President of the Federation of Bangladesh Chamber of Commerce and Industry (FBCCI), said Bangladesh still lags behind in logistics sector but need to prioritize logistics sector to attract foreign direct investment (FDI).

He said removing traffic jams on the Dhaka-Chittagong highway and ensuring faster services at seaports would help boost the economy.

Jasim also requested the cooperation of the Ministry of Commerce to strengthen the organs of the chambers and associations of different sectors.

“In order to achieve the goal of becoming a developed country and meeting the graduation challenges of LDCs, we need to focus more on different promising business sectors,” said the president of the FBCCI.

He hopes that the DCCI Gulshan Center will provide better services not only to its own members but also to the entire business community.

DCCI President Rizwan Rahman said that the main purpose of establishing DCCI Gulshan Center is to provide extensive and faster membership services as well as disseminate business information to the business community.

He said that DCCI is working for SMEs as it is the lifeline of our economy and to face the future challenges of LDC graduation and economic growth that we need to facilitate this sector.

DCCI Senior Vice President NKA Mobin, Vice President Monowar Hossain and former DCCI Presidents were also present at the opening ceremony.


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